Date and Time:
December 18, 2015 9:30 AM - 1:30 PM
Hotel Hilton, Mumbai, India
Protiviti India along with Achromic Point brings a half day seminar Transition to IND-AS and Impact of ICDS (Executive Update) in the city of Mumbai on 18th December 2015.
Many Indian Companies have initiated the process of transition to the new Indian Accounting Standards (Ind-AS) and getting the opening balance sheets firmed up. The first reporting under the new standards for listed companies shall be for the quarter ending 30 June 2016.
Simultaneosly, companies are also working on assessing the impact of the new Incom Tax Disclosure Standards (ICDS) for the financial year 31 March 2016.
Protiviti India’s financial reporting and tax experts are pleased to present a series of half day sessions for corporate senir executives (CFOs, finance controllers, finance heads and tax directors / heads, auditors, PE & merger & acquisition specialists) to discuss and share industry specific issues.
Topics being covered:
1. Revenue Recognition under Ind-AS:
- Current state on Ind-AS on revenue recognition (IAS 18/11 vs Ind-AS 115)
- In Principle differences between existing practice under Indian GAAP and Ind-AS
- Industry specific considerations under Ind-AS
- Key takeaways for companies
2. Impact of Income tax disclosure standards (ICDS) and other taxes on revenue recognition:
- Overview of Income Computation and Disclosure Standards
- Key provisions under the ICDS influencing revenue recognition and its tax impact
- ICDS – Potential conflict over MAT
- Other tax considerations on revenue recognition (Catering direct and indirect taxes)
- Transition to ICDS implementation
- Vishal Seth – Managing Director and Leader IFRS and Financial Reporting Advisory, Protiviti India
- Nidhi Goyal – Managing Director Tax and Regulatory, Protiviti India