Recent Opinions & Advisory Service Rules of Expert Advisory Committee

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Recent Opinions & Advisory Service Rules of Expert Advisory Committee

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Recent Opinions of The Expert Advisory Committee

Query No. 1	Presentation of subsequent recoveries against regulatory provisions related to Investments in Alternative Investment Funds (AIFs), under Ind AS framework.
Query No. 2	(i) Accounting treatment of interest cost arising on fair valuation of interest free subordinate debt provided by the Government of India (GoI), Government of National Capital Territory of Delhi (GNCTD) and other government agencies for construction of metro projects, and (ii) Accounting treatment of interest income earned on temporary investment of aforementioned interest free subordinate debt funds in flexi deposits till their utilisation in the project.
Query No. 3	Capitalisation of dry dock expenditure as a separate component of dredgers and depreciation thereon after completion of their estimated useful lives.
Query No. 4	Accounting for GST component paid on lease payment under Ind AS 116, 'Leases'.
Query No. 5	Accounting treatment of Structured Package of assistance for setting up a Hardwood Pulp Plant under Ind AS 20.
Query No. 6	Accounting treatment of salary paid to staff/employees and cost related to food trials during testing phase prior to opening of a new restaurant, under Ind AS framework.
Query No. 7	Valuation of land as part of net assets transferred to a newly floated company under common control.
Query No. 8	Accounting treatment of salvage value in computation of provision as per Scale Based Regulations (SBR Regulations) under AS Framework.
Query No. 9	Accounting treatment of construction costs incurred on residential quarters built on land owned by MoR under Ind AS framework.
Query No. 10	Appropriateness of considering Employees’ Family Benefit Scheme as Defined Benefit Scheme as per Ind AS 19.
Query No. 11	(i) Accounting treatment of expenditure incurred on the Electrification of Broad-Gauge Rail Line; and (ii) Accounting treatment of Resurfacing Cost.
Query No. 12	Nature of Right-of-Use (RoU) Assets recognised in accordance with Ind AS 116, 'Leases'.
Query No. 13	Accounting treatment of Grants under Accounting Standard (AS) 12, 'Accounting for Government Grants'.
Query No. 14	Accounting treatment of the profit from relinquishment of Asset Rights under AS framework.
Query No. 15	Timing of capitalisation of partly completed gas pipeline (Phase I) under Ind AS framework.
Query No. 16	Revenue Recognition in a Joint Development Arrangement under AS framework.
Query No. 17	Accounting for change in the measurement technique of Expected Credit Loss on financial assets under Ind AS framework.
Query No. 18	Accounting treatment of payment made to NHAI for development of road connectivity to Exhibition-cum-convention Centre (ECC Centre) Project.
Query No. 19	Accounting treatment of reimbursement receivable from the State Government towards the claim settled by the Company (raised by the Concessionaire against the State Government) under AS framework.
Query No. 20	Accounting treatment of non-construction fee under Ind AS framework.

Recent Opinions & Advisory Service Rules of Expert Advisory Committee

Important

Attention of the reader is specifically drawn to the fact that although the Expert Advisory Committee has been appointed by the Council, an opinion given or a view expressed by the Committee represents the opinion or view of the members of the Committee and not the official opinion of the Council of the Institute. The opinions are based on the legal position and accounting/auditing principles on the date the Committee finalises the particular opinion. The date of finalisation of each opinion is indicated along with the opinion. The opinions must, therefore, be read in the light of any amendments and/or other developments subsequent to the issuance of opinions by the Committee.

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Advisory Service Rules of The Expert Advisory Committee