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IND AS Notebook

All 36 IND AS standards, one hand-written notebook page each — built for exam night and interview prep, not for reading cover to cover. Tap any page to open the full worked-example guide.

Presentation & general Assets Financial instruments Group accounting The "new model" trio Measurement & fair value People & equity Provisions & FX Adoption & segments

Presentation & general

IND AS 1
Presentation of Financial Statements 📋
The rulebook for what a full set of statements must contain and how it's laid out.
BS + P&L (with OCI) + changes in equity + cash flows + notes.
going concerncurrent vs non-current
→ full guide
IND AS 7
Statement of Cash Flows 💵
Where did the cash actually come from and go?
3-way split: operating, investing, financing.
indirect methodcash equivalents
→ full guide
IND AS 8
Policies, Estimates & Errors ✏️
Policy/error changes → go back and restate.
Estimate changes → forward only, never restated.
retrospectivechange in estimate
→ full guide
IND AS 10
Events After Reporting Period 📅
Did the condition exist at year-end? → Adjust.
Arose only after? → Just disclose, don't adjust.
adjusting eventdividends declared
→ full guide
IND AS 24
Related Party Disclosures 👥
Who can control or influence you?
What did you actually transact with them?
KMPsignificant influence
→ full guide
IND AS 34
Interim Financial Reporting ⏱️
Each interim period = a standalone period, not a slice of the year.
Condensed statements are enough.
discrete methodseasonality
→ full guide
IND AS 118
Presentation & Disclosure 🆕
The newest one — restructures the P&L into categories.
Operating / investing / financing, plus mandatory subtotals.
operating categoryMPM
→ full guide

Assets — tangible & intangible

IND AS 2
Inventories 📦
Lower of cost and net realisable value — always.
Never write inventory above original cost.
NRVFIFO / weighted avg
→ full guide
IND AS 16
Property, Plant & Equipment 🏗️
Capitalise what brings the asset to working condition.
Depreciate component by component, not as one lump.
component depreciationrevaluation surplus
→ full guide
IND AS 38
Intangible Assets 💡
Research = always expensed.
Development = capitalised only if all 6 strict criteria are met.
six criteriaindefinite useful life
→ full guide
IND AS 40
Investment Property 🏢
Held for rental income or capital appreciation — not own use.
Cost model mandatory in India; fair value only disclosed.
rental yieldowner-occupied carve-out
→ full guide
IND AS 36
Impairment of Assets 📉
Carrying amount > recoverable amount → write it down.
Recoverable = higher of two possible exits.
CGUvalue in use
→ full guide
IND AS 105
Held for Sale & Discontinued Ops 🚪
Once genuinely held for sale → stop depreciating.
Measure at the lower of two numbers.
highly probable salediscontinued op
→ full guide
IND AS 20
Government Grants 🏛️
Match the grant to the expense/asset it compensates for.
Never straight to equity.
deferred incomegrant related to income
→ full guide
IND AS 23
Borrowing Costs 🏦
Interest on funds for a qualifying asset gets capitalised.
Only during the active construction period.
qualifying assetcapitalisation rate
→ full guide

Financial instruments

IND AS 32
Financial Instruments — Presentation ⚖️
Substance over form — obligation to pay cash = liability.
Whatever it's called, doesn't matter.
fixed-for-fixedcompound instruments
→ full guide
IND AS 107
Financial Instruments — Disclosures 📊
How significant are these instruments?
What risks do they carry — credit, liquidity, market?
sensitivity analysismaturity analysis
→ full guide
IND AS 109
Financial Instruments 💰
Ask 2 questions: business model, and is it just P+I (SPPI)?
Buckets: amortised cost / FVOCI / FVTPL.
SPPI testECLhedge accounting
→ full guide

Group accounting

IND AS 110
Consolidated Financial Statements 🏢
Control = power + exposure to returns + ability to use that power.
Consolidate line by line; NCI shown separately.
control testNCI
→ full guide
IND AS 111
Joint Arrangements 🤝
Joint operation = your own share of assets/liabilities.
Joint venture = one line, via equity method.
joint controlvehicle structure
→ full guide
IND AS 112
Disclosure of Interests in Other Entities 🔍
One consolidated disclosure standard for everything you don't fully own.
Judgements + material NCI + structured entities.
material NCIstructured entities
→ full guide
IND AS 28
Associates & Joint Ventures 📈
Significant influence, not control → equity method.
One line that grows with the investee's profit.
20-50% holdingequity method
→ full guide
IND AS 27
Separate Financial Statements 📁
The parent's own standalone books.
Subsidiaries at cost/109/equity — never consolidated here.
standalone accountspolicy choice
→ full guide
IND AS 103
Business Combinations 🤝
Identify the acquirer; measure everything at fair value.
What's left over = goodwill.
acquisition methodbargain purchase
→ full guide

The "new model" trio

IND AS 115
Revenue from Contracts with Customers 🧾
5 steps: contract → obligations → price → allocate → recognise.
As control transfers, not as cash is collected.
5-step modelvariable consideration
→ full guide
IND AS 116
Leases 🔑
Control it + use >12 months → on YOUR balance sheet.
Day 1: ROU asset = lease liability (both sides!)
ROU assetIBRshort-term exemption
→ full guide
IND AS 117
Insurance Contracts 🛡️
Premium received isn't revenue — it's a deposit.
Profit earned only as coverage is provided.
CSMPAAVFA
→ full guide

Measurement & fair value

IND AS 113
Fair Value Measurement 🎯
One definition everywhere — the exit price a market participant would pay.
Level 1/2/3, based on input observability.
exit pricelevel 3 inputs
→ full guide
IND AS 12
Income Taxes 🧮
Tax base vs carrying amount — the gap is deferred tax.
Balance sheet approach, not P&L approach.
temporary differenceDTA recognition
→ full guide
IND AS 33
Earnings Per Share 📐
Basic = actual weighted shares.
Diluted = adds back every convertible instrument.
weighted avg sharesdilutive shares
→ full guide

People & equity-linked

IND AS 19
Employee Benefits 👔
Short-term = simple accrual.
Post-employment defined benefit = full actuarial valuation.
actuarial gains in OCIgratuity
→ full guide
IND AS 102
Share-Based Payment 📈
ESOP cost = grant-date fair value, spread over vesting.
Never remeasured for later price moves.
vesting conditionsgrant-date FV
→ full guide

Provisions & foreign exchange

IND AS 37
Provisions & Contingencies ⚠️
Probable + estimable → provide for it.
Possible → disclose only. Remote → ignore.
constructive obligationonerous contract
→ full guide
IND AS 21
Foreign Exchange Rates 🌍
Monetary items retranslated every reporting date.
Non-monetary — generally not.
functional currencymonetary vs non-monetary
→ full guide

Adoption & segments

IND AS 101
First-Time Adoption 🚀
Apply every standard retrospectively at the transition date.
Except the specific optional/mandatory exemptions.
deemed costmandatory exceptions
→ full guide
IND AS 108
Operating Segments 🗂️
Report the way management actually looks at the business.
Not a prescribed grid.
management approachCODM
→ full guide

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