Depreciation.................................................................................................................................................. 1
Amortization ............................................................................................................................................. 1
Depletion................................................................................................................................................... 1
Goodwill ........................................................................................................................................................ 1
IFRS (international Financial Reporting Standards) ...................................................................................... 1
Ind-As ........................................................................................................................................................ 1
Revenue Recognition ............................................................................................................................ 2
Depreciation
Amortization
Depletion
Goodwill
Worldwide recognize
Normally applicable for European countries
Ind-As
Revenue Recognition
Measurement of revenue is done on fair value
Done on sales of goods, services, interest, dividend, Royalty
Revenue is only booked once risk & reward is transferred
Interest is booked on accrual basis
Royalty is booked on the agreement basis
Dividend is recorded in when declared at AGM(annual general meeting
Ind AS 10 (events after Reporting Period)
Within 6 months AGM should be conducted
At least 21 days before the AGM annual report should reach the share holders
o Adjusting event
Condition exist on the balance sheet period (e.g. Recession, Insolvency of the
debtors-make provision)
o Non-Adjusting event
Condition does not exist on the balance sheet period (Loss by fire etc.)
Going concern
Dividend
o Is non-adjusting event