GAAP Advisors | Ind AS Clinic Podcasts Titelbild

GAAP Advisors | Ind AS Clinic Podcasts

GAAP Advisors | Ind AS Clinic Podcasts

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Mastering the Language of Financial Reporting Stay ahead of the curve in the evolving world of global accounting. The Ind AS Clinic provides expert technical analysis and practical insights into Indian Accounting Standards (Ind AS), IFRS, and Indian GAAP. Hosted by CA Manish C. Iyer, this podcast breaks down complex regulatory updates into actionable knowledge. Whether you are a chartered accountant, a finance professional, or a student, tune in for deep dives into Standard ClarificationsGAAP Advisors
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  • Onerous Contract Provision - Ind AS 37

    Onerous Contract Provision - Ind AS 37
    Jul 10 2026
    Imagine signing a binding deal for a custom machine worth ₹4,00,000, only to have your entire production strategy shift before the equipment even arrives. Suddenly, that machine is destined for the scrap heap with an expected value of zero. This is the high-stakes financial dilemma facing Sun Limited in this case study.The source explores a critical intersection of law and accounting under Ind AS 37, detailing how a standard "executory contract" transforms into a dreaded "onerous contract",. It tackles a complex puzzle: when the "unavoidable costs" of a contract outweigh any "economic benefits," a company cannot simply wait until delivery to record the loss,.How does a future purchase become an immediate ₹4,00,000 liability on today’s balance sheet? The source reveals the technical logic behind recognizing provisions and explains how to determine the "least net cost" of exiting a binding agreement when fulfillment costs and potential penalties collide,. This analysis serves as an essential guide for understanding how accounting standards force companies to confront and report massive financial burdens the moment a contract loses its value.
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    29 Min.
  • Offsetting Cash Collateral - Ind AS 32 and Ind AS 109

    Offsetting Cash Collateral - Ind AS 32 and Ind AS 109
    Jul 6 2026
    Ever wonder if "netting off" collateral against a loan is as simple as it looks? This source explores a common accounting trap involving Cash Collateral in lending arrangements.When a lender retains security deposits—even if they are intended to be adjusted against the final loan installments—can they simply present a single net figure on the Balance Sheet? The source reveals that under Ind AS 32 (IAS 32), the answer is often a resounding "No."The mystery lies in the legally enforceable right to set off. For a company to offset a financial asset against a liability, the right must not be contingent on future events and must be enforceable even in cases of default or insolvency for all parties. If only the lender holds this right, the borrower remains exposed to liquidity risk, meaning the loan and the deposit must be reported separately as an asset and a liability.There is also a surprising twist regarding interest: you cannot simply calculate interest on the net balance. The source explains that the Effective Interest Rate (EIR) for the loan and the deposit must be calculated independently. Dive into this case study to understand why the "intent" to settle net isn't enough to bypass the rigorous presentation standards of Ind AS.
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    20 Min.
  • Bypassing OCI in Asset Revaluation Surplus - Ind AS 1 and Ind AS 16

    Bypassing OCI in Asset Revaluation Surplus - Ind AS 1 and Ind AS 16
    Jul 5 2026
    Have you ever looked at a company’s financial statements and found that their own rules don't match their results? This source explores a striking case of non-compliance involving Ind AS 16 and Ind AS 1, where a listed company’s reporting of property, plant, and equipment (PPE) raises serious red flags.The core mystery involves the Revaluation Surplus. According to Ind AS 16, any increase in an asset's carrying amount from revaluation must be recognized in Other Comprehensive Income (OCI) and accumulated in equity as a "revaluation surplus". However, this company bypassed OCI entirely, stating it recognized the surplus directly in a revaluation reserve within Other Equity.The plot thickens when you look at the Statement of Changes in Equity. Despite their stated policy, the company’s equity section didn't actually contain a Revaluation Reserve component. This creates a double contradiction: the company's policy violated the standard, and their actual financial presentation didn't even follow their own flawed policy.How does such a fundamental error end up in published financial statements? This review serves as a cautionary tale for investors and auditors alike, demonstrating why a deep dive into the "Other Equity" section is essential to uncover hidden non-compliance with Ind AS framework requirements.
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    18 Min.
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