Guide To Ind AS 115 and Ind AS 116

This book is a comprehensive guide to Ind AS 115, i.e., revenue from contracts with customers (replacing Ind AS 11 & 18) & Ind AS 116, i.e., leases (replacing Ind AS 17), in a simplified language with abundant illustrations. This book will be helpful for both professional & students who are preparing for exams like CA, CS, MBA, M.Com., etc.The Present Publication is the Latest Edition, authored by CA Parveen Sharma & CA Kapileshwar Bhalla, with the following noteworthy features:

Complex provisions are explained in a simple and lucid language
[Practical Examples, Diagrams & Flowcharts] are provided throughout the book for a better understanding of difficult concepts
[Service Concession Arrangement] are covered with examples
[Transitional Provisions on Ind AS 115 and Ind AS 116] are covered

The contents of this book are as follows:

Ind AS 115 ? Revenue from Contracts with Customers
Clarification and Outline of Ind AS 115
Analysis of the name of the Standard
Scope
5-Step Model
Contract Costs
Presentation
Disclosures
Special Issues ? Application Guidance (Appendix B of Ind AS 115)
Transition Provisions ? First-time application of Ind AS 115, i.e. switchover from Ind AS 11 and 18 (Appendix C to Ind AS 115)
Service Concession Arrangements (Appendix D to Ind AS 115)
Ind AS 116 ? Leases
Important Clarifications
What is the need for Ind AS 116? & Outline of Ind AS 116
What is a Lease?
What is the Objective of Ind AS 116?
Recognition Exemptions (Practical Expedients)
Identifying Lease
Accounting of Lease ? Books of Lessee
Accounting of Lease ? Books of Lessor
Sale and Leaseback Transactions
Disclosures in Ind AS 116
Transitional Provisions (Appendix C to Ind AS 116)