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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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  • Accounting for Common Control Business Combination - Ind AS 1, Ind AS 27, Ind AS 103 and Ind AS 109

    Accounting for Common Control Business Combination - Ind AS 1, Ind AS 27, Ind AS 103 and Ind AS 109
    Oct 19 2026
    Ever wondered how a parent company accounts for "moving furniture" between its own subsidiaries? This source explores the technical labyrinth of a common control business combination, specifically when a division of one subsidiary (S1) demerges into another (S2).The source reveals a striking accounting asymmetry: while the receiving entity (S2) must restate its financial history as if the merger happened at the start of the preceding period, the transferring entity (S1) does not. This ensures the transferee’s books reflect the business's "new" reality retrospectively, regardless of when the deal actually closed.More intriguingly, the impact on the parent company (Holdco) is not set in stone. The source details how the value of Holdco’s investments hinges entirely on a crucial accounting policy choice under Ind AS 27. If Holdco chooses historical cost, its investment values may remain static. However, opting for fair value under Ind AS 109 can trigger immediate and significant impacts, with gains or losses recognized in the Profit and Loss account or Other Comprehensive Income.Because these maneuvers involve complex interactions between multiple standards—Ind AS 1, 27, 103, and 109—the source emphasizes that these choices are "material" and require explicit disclosure to maintain transparency for stakeholders. It is a compelling look at how corporate restructuring is captured in the fine print of Indian Accounting Standards.
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    44 Min.
  • Exposing Phantom Assets in Ind AS Transition

    Exposing Phantom Assets in Ind AS Transition
    Oct 13 2026
    Facts of the CaseThe Company A has sold its entire equity stake in its wholly owned subsidiary, Company B on 11th February 2024. The Company B is located in UAE and represents separate geographical entity.Issue/QueryQuestions:1. Whether Company A needs to do line by line consolidation till 11th February 2024 when financial statements for FY 2023-24 are prepared?2. If yes, whether Company B is to be disclosed as discontinued operations in Consolidated Financial Statements of Company A?3. If the same is to be disclosed as discontinued operations in Consolidated Financial Statements, which amount should appear in “Profit from discontinued operations” i.e. whether only profit on sale of Company B is to be disclosed or summation of Profit on sale of Company B and Profit attributable to Company B till February 2024 is to be disclosed?4. Company A has measured investment in Company B at cost in accordance with Ind AS 27. Whether Company A also needs to disclose Company B investment as discontinued operations in its separate financial statements? There was no binding agreement for sale of subsidiary with purchaser.
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    31 Min.
  • Error disguised as Change in Practice - Ind AS 1, Ind AS 8 and Ind AS 115

    Error disguised as Change in Practice - Ind AS 1, Ind AS 8 and Ind AS 115
    Oct 4 2026
    This podcast examines a company's failure to comply with mandatory financial reporting standards and statutory requirements. The analysis reveals that the entity improperly categorised a prior period error as a mere change in accounting practice, thereby obscuring material information from stakeholders. By misapplying rules regarding revenue recognition and inventory, the company and its auditors neglected the specific disclosure mandates of Ind AS 8 and Ind AS 1. Furthermore, the text criticises the ICAI Expert Advisory Committee for providing insufficient guidance on whether such adjustments constitute policy shifts or error corrections. Ultimately, the source highlights how vague language and inadequate auditing procedures can undermine the transparency and integrity of corporate financial statements.
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    43 Min.
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