CA FINAL FINANCIAL REPORTING

is Bls Pk
what the need of FR in meat life
Ans To provide Information about Financial Position Financial Performance

and cash Flows that is useful to wide range of USERS in making

ECONOMIC DECISIONS

Ind As ans IFRS converged standards which results in carve outs ins
statement of Pll instead of statement of comprehensive income
Balance sheet instead of statementof financial Position

1 Carve outs Differences in application of accounting principles practices

when Compared to IFRS 4TERI Alay soul MERI Alka soon

2 Carve ins No Guidance under IFRS bon particular transaction events

then Guidance provided under Ind as is known as carve ins
4TO CHUP HE SO AB MUJHE MI PROVISION BANANA HOGA Y

Why Ind As
Purchased one property for E 50,001000
suppose Jagat limited
one software for E 1500000 stationery'll for E 20000 inventories
for E 500000 PPE Intangibles InvestmentProperty Inventories

Also Fagot limited Purchased few shares and Debentures for

E 750000 LFinancial Instt

Also Jagan limited did few transaction in foreign Currency Linda21
There are few Receivables Parables which needs to be settled
within 12 months and few to be settled after 12 months
Non current f current
 If Jagat limited adopts revaluation model then How to determine
Fain value Ind As 1137
If Tafari limited Grants Esop's to employees had As 1027

will understand Fls as

perschedule III
Hn
Balance sheet alotas per schedule II

Equity Non Current Asset

Shanecapital P And as 16
y financial instr
Ind AS 38
Often Equity Intangibles may
Investment property Ind As 40
Monnow
NonCanment riot Capital WIP Ind 71115

long term loan Financial instt Inv in securities Financial instt

Long term Prov And As 37

Defeated.co.th Ind As 12 Current Asset
pieg
Inventories And As 2
Comment lab Paxin securities Financial Instt

Short term loan Financial instt Trade Receivables Financial Instt

Short term Prov 7 And as 37
TradePayables Financial instt AssetHeld boysafe Ind As 105
 Statement of Profit 1033 Division II g schedule37

Revenue Ind As 1157

Othey Income 90then RelevantPnd As7
And as 20 109

Expenses

Employee Benefit Expenses Ind AS 197

Depreciation Amontisation Lind As 16 38 407

Impairment of Asset 9 Id As 36 1057
Provisions Lind As 377
Finance cost
find As 1097
Tax Expenses
Comment the
End As 127
Deferred thy

Profit for the year xxx

OTHER COMPREHENSIVE INCOME

Ir Ams not reclassified to Pll

in Income tax relating to items not reclassified to Pll
iii arms reclassified to Pll
iv Income tax relating to items reclassified to Pll
total open comprehensive Income xxx

Earningsper share of Facevalue É 10 or E100

Basic EPS And As377
Dilated EPs Lied As337
STATEMENT OF CASH FLOW
Lind AS 7
ROADMAP FOR IMPLEMENTATION OF IND AS

For companies other than Banks NBFC's and insurance companies

1 companies listed in on outside India on Stock Exchange

2 companies in the process of listing in on outside India
3 Unlisted having net worth of E 250 come on
companies more

4 Holding hubsidiany Associate Joint venture of Above

Note

it companies listed on SME Exchange not mega to apply Pnd As on

mandatory Basis
ii once and As applied follow and as for all subsequent Fls even
if criteria does not subsequently apply to it
Iii Fls
Application
of Ind As for both standalone FIS Consolidated

in Companies not covered continued to apply existing As

Fon Scheduled Commercial Banks NBFC's Insurance companies

NBFC's
if Nate's whose equity on debt securities listed fi the process of listing
Ii having net worth 2 250 on on more
Unlisted wife's
iii Holding hubsidiany Associate Joint venture of Above
Scheduled Commercial Banks Excluding BRB's

RBI deferred till bumthem notice

Insurers Insurance companies

IRDA deferred till further notice

As per companies Act 2013 schedule III there are 3 divisions

namely

Examples of CARVE out 5

Examples of CARVE ins