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 30 September 2018) provides summary of key updates from the Ministry of Corporate Affairs, the Securities and Exchange Board of India, the Institute of Chartered Accountants of India and the Central Board of Direct Taxes.
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
Revenue is a crucial financial performance indicator for companies and the new standard is expected to have pervasive impact due to the addition of significant new concepts on recognition, measurement and disclosure of revenue.