This month’s edition provides an introduction to Data and Analytics (D&A). D&A has ushered in a virtual revolution in many organisations which are investing significant time, resources and capital to achieve desired business and controlling results.  D&A is also acting as a significant disrupter in the way auditors are likely to perform audits in future. Therefore, from this month we begin a series of articles that will discuss how D&A is expected to affect audit, insights that could be provided to companies and how D&A tools are expected to change the conventional audit process.

Ind AS 102, Share-based Payment provides an elaborate guidance on share-based payment transactions both with employees and non-employees. The article on this area summarises the new concepts that companies should focus while accounting for share-based payments under Ind AS.

Financial instruments accounting can be complex as companies in India that enter into foreign currency transactions to purchase or sell machinery, inventory, etc. and such transaction are affected by the guidance under Ind AS 109, Financial Instruments. Companies that invest in financial assets are also impacted by the guidance in Ind AS 109. This publication analyses two such issues: foreign currency embedded derivatives and classification of investments in preference shares.

We also cast our lens on a recent development in presentation of financial statements relating to non-GAAP measures. Recently, the International Organisation of Securities Commission (IOSCO) has issued a final set of guidelines on presentation of non-GAAP measures. Our article highlights 12 elements contained in these guidelines. Additionally this publication carries an article on unconsolidated structured entities which describes key factors to identify such unconsolidated structured entities, explains the disclosure requirements and identifies practical challenges that companies could face while implementing Ind AS requirements on such entities.

Our publication also carries a regular synopsis of regulatory updates.