Tapping into the burgeoning BFSI market
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The Consumer & Retail sector is growing rapidly and is extremely dynamic. Due to constant disruption, managing business has become complicated and cumbersome.
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Our healthcare and life sciences advisory team brings together a combined experience of over 50 years to help businesses navigate through changes, new...
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At Grant Thornton in India, our automotive team works with a wide variety of clients to help them achieve their goals and increase shareholder wealth. Our...
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M&E practice encompasses team of dynamic professionals with deep technical knowledge and extensive experience of working across segments say television, print,...
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Tailored service offerings to Not for Profit organisations and CSR compliance services for dynamic businesses
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At Grant Thornton, we assist dynamic Indian businesses in the Real Estate & Construction sector throughout their business life cycle by offering robust...
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Insights
Insights into Ind AS 116: A series
05 Apr 2019The Ministry of Corporate Affairs has notified Ind AS 116 with effect from 1 April 2019. Ind AS 116 is based on International Financial Reporting Standard 16, Leases (‘IFRS 16’), which became effective starting 1 January 2019.
Ind AS 116 will affect most companies that are involved in leasing, and will have a substantial impact on the financial statements of lessees of property and high-value equipment.
This article on ‘Definition of a lease’ is the first in a series of articles on this topic. The publication delves into the three key evaluations, all of which must be met in order to conclude that a contract is or contains a lease and the transition considerations.
Also appears under...
