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Recent Opinions of The Expert Advisory Committee

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Recent Opinions of The Expert Advisory Committee

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Last Updated on 10th June 2022

Accounting treatment of borrowing costs incurred by parent company in respect of borrowings made for acquisition of investments in subsidiary company.
Classification of business activity as operating activity or investing activity.
Presentation of interest earned from deployment of surplus funds with banks.
Accounting treatment in the Company’s standalone financial statements for the Corporate Guarantee (Deed of Guarantee) issued by the Company being Parent Company to banks/suppliers/service providers on behalf of its Step-down subsidiary company.
Accounting treatment under Ind AS for Financial Year 2019-20 for research expenses in case of a new Company formed for setting up of new Urea Plant and is under construction phase.
Treatment of incentive to wallet users under Ind AS 115.
Estimation of Final Mine Closure Plan and treatment of the same in the books of account on year-on-year basis.
Accounting treatment of Government Grants.
Capitalisation of borrowing cost during lockdown period.
Treatment of dredging and reclamation (site grading) cost on leased land.
Accounting treatment for backstopping arrangement for compulsorily convertible debentures (CCDs).
Presentation of change in non-current asset in Cash Flow Statement.
Treatment of Investments in Subsidiaries/Associates held through Policyholders’ Funds.
Allocation of manpower cost during project implementation phase.
Accounting treatment of expenditure relating to indirect expenses which are compulsorily required to be incurred for construction of the project.
Accounting treatment of Compulsorily Convertible Debentures (CCDs) by the issuer under Ind AS 32, Financial Instruments: Presentation.
Measurement of residual value of Property, Plant and Equipment / Intangible Assets as a percentage to ‘Original Cost’ as mentioned in the Companies Act vs. ‘Deemed Cost’ referred to in Ind AS 101.
Accounting treatment of expenditure incurred for configuration design study of integrated refinery cum petrochemical project.
Method of accounting to be followed.
Disclosure of changes in inventory of scrap in the statement of profit and loss.
Creation of an intangible asset (License) on account of pre-operational expenditure.
Classification of Advances for Infrastructure Projects to be leased.
Amortisation of stamp duty and registration charges paid/payable towards execution of mining lease deeds.
Accounting treatment of expenditure incurred for rejuvenation of petrochemical plant.
Disclosure of Feedstock Subsidy.

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