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Companies will have to adopt more detailed revenue recognition methods from April 1, as the government notified a new accounting standard. The Ministry of Corporate Affairs has notified Indian Accounting Standard (Ind AS) 115 which would come into effect from the new financial year, effective Sunday. According to experts, Ind AS 115 will contribute to …

In 2016, the Financial Accounting Standards Board and the International Accounting Standards Board released new accounting standards, ASC 842 and IFRS 16, which change the way organizations are required to recognize lease assets and liabilities on the balance sheet and disclose key information about rental agreements. With the new standards due to go into effect …