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Financial Reporting

Financial statements, Schedule III, grouping and disclosures.

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Financial Reporting

330 articles
Ind AS 19 Termination Benefits: Recognition Date, Retention Payments and the Twelve-Month Test

Ind AS 19 Termination Benefits: Recognition Date, Retention Payments and the Twelve-Month Test

Ind AS 19 recognises termination benefits at the earlier of the offer becoming non-withdrawable and recognition of a qualifying restructuring involving those benefits. Separate payments for future service, then apply the appropriate short-term, long-term or post-employment measurement requirements.

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Ind AS 37 Reimbursements: Separate the Provision, Recovery Asset and Net Expense

Ind AS 37 Reimbursements: Separate the Provision, Recovery Asset and Net Expense

A reimbursement asset under Ind AS 37 requires virtual certainty of recovery if the obligation is settled and cannot exceed the provision. Keep the liability and recovery asset separate; the permitted net expense presentation does not authorise balance-sheet netting.

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Ind AS 16 Insurance Compensation: Separate the Asset Loss, Receivable and Replacement Cost

Ind AS 16 Insurance Compensation: Separate the Asset Loss, Receivable and Replacement Cost

For impaired, lost or surrendered PPE, recognise third-party compensation in profit or loss when receivable. Account for the asset event and any replacement separately; an insurance claim does not automatically reduce the new asset’s cost.

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Ind AS 24 Government-Related Entities: The Limited Exemption and Significant-Transaction Note

Ind AS 24 Government-Related Entities: The Limited Exemption and Significant-Transaction Note

Ind AS 24’s government-related exemption replaces specified paragraph 18 detail with paragraph 26 disclosures; it does not eliminate related-party reporting. Identify the government relationship, individually significant transactions and collectively significant activity.

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