KPMG in India is pleased to present Voices on Reporting – a monthly series of knowledge sharing calls to discuss current and emerging issues
KPMG in India is pleased to present Voices on Reporting – a monthly series
Voices on Reporting – quarterly update publication (for the quarter ended 31 December 2018) provides summary of key updates from the Ministry of Corporate Affairs, the Securities and Exchange Board of India and the Institute of Chartered Accountants of India.
The Indian Accounting Standards (Ind AS) are bringing about a paradigm shift in financial reporting which is affecting many key metrics of financial performance. Areas such as revenue and business combinations are likely to pose interpretation and implementation challenges under the new regime
Continuing with the series of special sessions, this session focusses on the Transport, Leisure and Sports sector. In this session we discussed the key significant areas relating to Ind AS 115, Revenue from Contracts with Customers, and IFRS 16, Leases on transport, leisure and sports sector, where current guidance under Ind AS is expected to change due to implementation of new standards.