Financial Reporting

Financial statements, Schedule III, grouping and disclosures.

StateTopic

Financial Reporting

330 articles

Ind AS 38: contractual useful lives and amortisation reassessment2026-10-23

Ind AS 38 Useful Lives: Legal Expiry, Reacquired Rights, Residual Values and Indefinite-to-Finite Changes

For recognised intangible assets, contractual life can limit amortisation even where economic benefits may last longer. Indefinite life requires evidence and annual impairment testing; reassessment to finite life triggers a prospective estimate change and an impairment review.

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Ind AS 41: biological assets and harvest accounting2026-10-23

Ind AS 41 Agriculture: Biological-Asset Values, Bearer Plants and the Harvest-to-Inventory Bridge

Ind AS 41 generally measures biological assets at fair value less costs to sell and measures agricultural produce at that amount at harvest. Separate bearer plants from the produce growing on them, and carry the harvest-date measurement into the subsequent inventory working without double counting.

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Ind AS 40: investment-property working papers2026-10-23

Ind AS 40 Investment Property: Classification, Cost-Model Closing and Fair-Value Disclosure

Rental or capital-appreciation property needs a classification analysis before valuation. Ind AS 40 requires the cost model while retaining fair-value disclosure, and a supported change in use does not create an automatic fair-value uplift. This guide reconciles acquisition costs, depreciation, transfers and disposal.

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AS 21: subsidiary consolidation working papers2026-10-23

AS 21 Subsidiary Consolidation: Full Line-by-Line Inclusion, Goodwill and Intragroup Eliminations

Under AS 21, a controlled subsidiary normally enters consolidated statements in full, with minority interests presented separately. Build an acquisition-equity bridge, distinguish pre- and post-acquisition reserves, and eliminate intragroup balances and unrealised profits without multiplying every line by ownership.

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AS 18 Related Party Disclosure Working2026-10-22

AS 18 Related-Party Disclosures: The 10% Screen, Loan Movements and Separate-Statement Reconciliation

Build an AS 18 note from relationship evidence, transaction categories, outstanding items and debt adjustments. Use the correct materiality denominator and keep separate-company and group views distinct.

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AS 27 Joint Venture Accounting2026-10-22

AS 27 Joint Ventures: Operations, Joint Assets and Proportionate Consolidation Without Double Counting

Classify an AS-framework joint venture before posting its balances. Separate own obligations from joint shares, bridge acquisition goodwill and eliminate retained-asset gains in consolidation.

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AS 23 Associate Equity-Method Reconciliation2026-10-22

AS 23 Associate Accounting: Equity-Method Bridge, Dividends and Suspended-Loss Recovery

Build an AS 23 consolidation working from acquisition cost to closing investment, including post-acquisition profit, distributions, equity movements, unrealised margins, preference claims and suspended losses.

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AS 24 Discontinuing Operation Disclosures2026-10-22

AS 24 Discontinuing Operations: Disclosure Trigger, Attribution and Comparative Reconciliation

Build AS 24 disclosures from the correct trigger: reconcile gross assets and liabilities, attributable profit, disposal gains, related tax, cash-flow categories and prior-period comparatives.

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AS 25 Interim Closing Reconciliation2026-10-22

AS 25 Interim Closing: Cumulative Profit, Bonus Estimates, Tax Expense and Seasonal Revenue

Reconcile AS 25 interim amounts on a year-to-date basis, update bonus and effective-tax-rate estimates, and avoid artificial cost or seasonal-revenue smoothing.

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AS 5 Errors and Estimate Changes2026-10-22

AS 5 Closing Review: Prior-Period Errors, New Estimates and Current Profit Effects

Distinguish an earlier error from a reasonable estimate changed by new information under AS 5, with six profit-and-loss and prospective-depreciation illustrations.

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AS 14 Purchase Method Reconciliation2026-10-22

AS 14 Purchase Method: Consideration, Goodwill and Statutory Reserve Reconciliation

Reconcile AS 14 purchase-method consideration and net assets, distinguish goodwill from capital reserve, and keep statutory-reserve preservation entries separate.

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AS 17 Quantitative Reportable-segment Assessment2026-10-22

AS 17 Reportable Segments: Three 10% Tests, the 75% Revenue Check and Prior-year Continuity

Apply AS 17’s revenue, result and asset tests independently, then test external-revenue coverage and prior-year continuity. Six calculations show why consolidated revenue, netted profit/loss and a single current-year percentage can produce the wrong reportable-segment list.

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