Ind AS

Ind AS 115 Revenue from Contracts with Customers

One Day Programme

Implication of Ind AS 115 Revenue from Contracts with Customers

Background & Objectives:

Application of IND AS has become mandatory for all the listed companies (except SME Listed), having net worth more than INR 250 Crore or more and their holding, associates, and joint venture companies w.e.f. 1st April 2017.

In continuance of the convergence process on 28th March 2018 MCA has notified Ind AS 115 Revenue from Contracts with Customers which is in line with IFRS 115 applicable to all Ind AS Companies. New revenue standard virtually replaces all the revenue recognition pronouncements under Ind AS viz. Ind AS 11 Construction Contracts, Ind AS 18 Revenue and Guidance Note on Accounting for Real Estate Transactions. Top line is one of the most important elements in the financial statement of any company to assess its financial performance. Ind AS 115 contains fundamental changes to the revenue recognition policies vis a vis current Indian Accounting Standards.

The new standard will have significant business impact. E.g. Real estate companies will not be able to continue revenue recognition under POCM, Software companies will have same consequences like real estate companies. Impacted companies may wish to change contracts with customers to avoid negative impact on their top line. Implementation of Ind AS will have consequential impact on bonuses, income tax computation, key financial ratios. This one day programme is designed to meet following objectives in implementation of Ind AS 115

  1. Assessment of impact on Revenue and other financial metrics
  2. Understanding recognition and measurement of revenue under Ind AS 115
  3. Understanding of onerous disclosure requirements in financial statement for which companies need to plan in advance
  4. Impact on Audit Procedures due to new requirements

Who Should attend?

Accounting Professionals, Auditors, Finance Managers, Financial Statement Analyst

  • Programme Coverage
  • Principles under Ind AS 115
  • Practical case studies on Ind AS 115 of different industries
  • Case Studies on Accounting under Ind AS 115 vis a vis Current Accounting Standards
  • Impact Assessment and Guidance on Disclosures
  • Impact on Audit procedures

Timings: 9:30 am – 5:30 pm, Registration begins at 9:00 am

How to Register:

  • Fees: Rs. 9,500/- + 18% GST Per Person
  • Please write to register@princetonacademy.co.in / Call -022 67256200
  • Mention the name of participant, company, contact details.
  • Fees include lunch, tea, course material, participation certificate etc.

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