Ind AS 115 focuses on “control approach” for revenue recognition as against the “risk and rewards” approach under Ind AS 18; The author can also be reached at vcpote@rediffmail.com. Share. Ind AS-115 notified on 28.03.2018 by the Ministry of Corporate Affairs, effective from 01.04.2018. Ind AS-115 provides single comprehensive framework to be used by entities to recognize revenue from their customers and report useful information about nature, amount, timing and uncertainty of cash flows arising from a customer. Category Accounts Other Articles by - CA Vivekanand Pote . in formulation of Educational Materials on Ind ASs to provide guidance to the members and other stakeholders so as to enable them to implement these Standards in the same spirit in which these have been formulated. Educational Materials & Slides - Educational Materials Manufacturers, Educational Materials India, Educational Materials, Educational Materials Exporters, Educational Materials Suppliers. Ind AS 115 requires an entity to consider the terms of the contract and its customary business practices to determine the transaction price. This InBrief discusses the transition options available with entities transitioning to Ind AS 115, suggested disclosures in the interim financial statements prepared as per Ind AS 34, Interim Financial Reporting/ financial results prepared under SEBI (listing obligations and disclosure requirements) regulations, 2015 on initial adoption of Ind AS 115. Contents Background 5 step model of revenue recognition Recognition & Measurement – over time or at a point in time . Ind AS 115 (Revenue from contracts with customers) Presentedby CA Manoj Pati . Moving forward in this direction, the Committee has come out with another Educational Material on Ind AS 108, Operating Segments. Contents Title of Ind AS Page Ind AS 1, Presentation of Financial Statements 1 Ind AS 2, Inventories 6 Ind AS 7, Statement of Cash Flows 7 Ind AS 8, Accounting Policies, Changes in Accounting Estimates and Errors 10 Ind AS 10, Events after the Reporting Period 13 Ind AS 11, Construction Contracts 15 Ind AS 12, Income Taxes 17 Ind AS 16, Property, Plant and Equipment 21 Lead Supplier. Tags :accounts. Revenue from contracts with customers: Ind AS 115 Inventories: Ind AS 2 Income taxes: Ind AS 12 Property, plant and equipment: Ind AS 16 Leases: Ind AS 17 Employee benefits: Ind AS 19 Share-based payment: Ind AS 102 Accounting for government grants and disclosure of government assistance: Ind … Naugra Workshop Export Group - Workshop Machines And Workshop Tools India. 4 Likes. Download CA Final Ind AS Handwriten Summary by Praveen Sharma Sir Applicable for November 2020 Exams and Onward in PDF Format. 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