The      Accounting Advisory Services (AAS) team at BDO India is pleased to share, 'THE STANDARD STANCE' - An expert insight into key accounting matters. Each monthly issue of the publication spotlights and discusses a key accounting matter noteworthy for organisations to stay ahead in their business journeys.
 
This issue of THE STANDARD STANCE, 'NAVIGATING CERTAIN COMPLEXITIES WHILE APPLYING IND AS 116 ‘LEASES’ discusses solutions to effectively navigate accounting complexities under the new model.

The accounting for leases in the financial statements of lessees significantly changed when the Ministry of Corporate Affairs notified Ind AS 116 ‘Leases’ effective from 1 April 2019. Based on our understanding of the application of Ind AS 116 by the corporates, we are discussing three areas wherein corporates could typically encounter complexities while applying Ind AS 116 along with the relevant accounting guidance and the factors that the management should consider to assist in navigating the complexities in these areas.

For a detailed understanding of the solutions

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