Description: Data Analytics for Accounting Standards and Regulatory compliance covering Ind AS / IFRS / Lease Accounting / Expected credit loss / ICAAP
data analytics (901) regulatory compliance (216) accounting standards (5) lease accounting (4) expected credit loss (4) icaap (3) ind as / ifrs (1)
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Lease Accounting as per Ind AS 116 is mandatory effective date 1st April 2019 replacing the earlier Ind AS 17. Leases should be recognized in the balance sheet as a ‘right-to-use’ asset and a ‘lease liability’.
Ind AS 109 mandates computation of ECL for receivables portfolio. Simplified approach for receivables is followed for recognising lifetime expected credit loss It is required to determine the groupings of receivables.