“Impact Of Ind AS Implementation- A Study On Property, Plant & Equipment & Capital Work In Progress Of Select Indian Companies”

Abstract

Cross border transactions and free capital flow across nations is the essence of modern economies. The existing Accounting Standards had limitations to deal with diversified business transactions and structure and hence to revamp this, Ind AS was implemented by the Ministry of Corporate Affairs (MCA) on 16-02-2015 when it issued a notification for Indian Accounting Standards (Ind AS). No individual or business unit can operate in isolation and thus it is imperative to analyze the impact of the exercise of implementation of newly conceptualized Ind AS on the financial statements of the firm. The study has been directed to understand implementation of Ind AS on the position of Property, Plant & Equipment (PPE) & Capital Work in Progress (CWIP) of select Indian firms as per roadmap of Ind AS implementation. The study also attempts to catalogue the reasons of variations in position of PPE as well as CWIP due to application of Ind AS.