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The October 2013 edition of the Accounting and Auditing Update discusses the key areas of focus when conducting impairment testing under Indian GAAP. We also examine some considerations from an accounting perspective of Corporate Debt Restructuring. We also cast our lens on the IASB’s proposals on Insurance accounting. In this issue we also explain the accounting for employee share based payments under Indian GAAP. In addition, we have covered an overview of the key changes being proposed to the format and content of the auditors’ report internationally.
The issue also highlights the accounting practices by entities in India relating to transaction costs associated with lending/financing and provides an overview of the key regulatory developments including a snap shot view of the key regulatory developments relating to the Companies Act, 2013.