Hello Everyone,
Please find the text of the Launching Online Refresher Course – ?Deep Dive into Revenue Standard ? Ind AS 115? Organized by the Ind AS Implementation Committee of ICAI notification below –
NON-ACADEMIC ICAI UPDATE (NOT RELEVANT FOR EXAMS BUT FOR GENERAL AWARENESS)
Launching Online Refresher Course – ?Deep Dive into Revenue Standard ? Ind AS 115? Organized by the Ind AS Implementation Committee of ICAIest on 25 Feb 2022
| IndAS Implementation Committee 20th January 2022 |
| Launching Online Refresher Course – ?Deep Dive into Revenue Standard ? Ind AS 115? Organized by the Ind AS Implementation Committee of ICAI |
| The Ind AS Implementation Committee of ICAI is pleased to announce the launch of an online refresher course – ?Deep Dive into Revenue Standard ? Ind AS 115?. For registration, kindly visit the link(s) below: – https://learning.icai.org/committee/asb/deep-dive-lease-standard-ind-as-115/ Total sessions ? 5 || Session Duration ? 3 hours per session (includes session break as decided by the faculty). This course is for: – Session schedule, faculty details & timings: |
| Day | Topic | Date & Time | Faculty Name |
| Day 1 | ? Introduction, Core Principles & Scope of Ind-AS 115 Revenue from Contracts with Customers ? Brief Overview of the Five Step Model for Revenue Recognition ? Deep Dive into Step 1 – Identifying a contract (with case studies) ? Key attributes of a contract with customer ? Contract Separation vs Contract Combination (with case studies) ? Contract Modification & Its Accounting under Ind-AS 115 (with case studies) ? Deep Dive into Step 2 – Identify the performance obligations (with case studies) ? Determining Single Performance Obligation vs Multiple Performance Obligation (with case studies) ? Practical Issues like free service warranties, free software updates, material customer rights etc. ? Examples and Case studies | 6th February 2022 (Sunday) 10 am to 1 pm | CA. Amit Jain |
| Day 2 | ? Deep Dive into Step 3 – Determining the transaction price ? Impact of (a) Variable Consideration, (b) Significant Financing Component (c) non-cash consideration etc. on determination of transaction price (with case studies) ? How to estimate Variable Consideration? ? Applying constraint, while determining transaction price (with case studies) ? Examples and Case studies | 12th February 2022 (Saturday) 10 am to 1 pm | CA. Mohan Lavi |
| Day 3 | ? Deep Dive into Step 4 – Allocation of the transaction price to separate performance obligations ? How to determine Standalone Selling Price ? How to allocate the transaction price to separate performance obligations (with case studies) ? Treatment of Loyalty Programmes ? Examples and Case studies | 13th February 2022 (Sunday) 10 am to 1 pm | CA. Mohan Lavi |
| Day 4 | ? Deep Dive into Step 5 – Recognize revenue when (or, as) Performance Obligations are satisfied ? Indicators of, when Control is transferred ? Measuring Progress towards Satisfaction of Performance Obligation ? When a performance obligation is satisfied over time vs. a point-in-time ? Revenue recognition (a) over time and (b) at a point-in-time (with case studies) ? How to deal with special arrangements like (a) Consignment Arrangement (b) ?Bill-and-Hold? Arrangement (c) Re-purchase Arrangement etc. ? Treatment of Customers’ Unexercised Rights (Breakage) ? Examples and Case studies | 19th February 2022 (Saturday) 10 am to 1 pm | CA. Anjani Khetan |
| Day 5 | ? Key Application guidance ? How to deal and treatment of the following: (a) Agent vs Principal (b) Contract Costs (c) Licenses – Right to Use vs Right to Access (d) Warranties (e) Non-refundable upfront fees (f) Customer’s Incentives (g) Impact of Customer Acceptance (h) Sales with right of return ? Key Presentation and disclosure requirements ? Examples and Case studies | 20th February 2022 (Sunday) 10 am to 1 pm | CA. Anjani Khetan |
CPE ? 15 Structured || Cost ? Rs. 1200 + 18% GST (i.e., Rs. 1416/-).
It may be noted that physical copies of the books WILL NOT be provided with the course. PPTs and recorded sessions (post completion of LIVE sessions) shall be made available via the Digital Learning Hub (learning.icai.org) of ICAI.
Registration will be on a ?first-come, first-serve basis?. In case a refund/admission cancellation request has been
received from the member for any reason, 10% of the gross fee paid (inclusive of GST) will be deducted as per norms
of ICAI.
No refund request will be entertained after 2nd February 2022. In case, the batch has been cancelled by the
Committee due to unavoidable circumstances, full fees will be refunded to the member by the Committee. In case
of any query, kindly email kulashekhar@icai.in
Ind AS Implementation Committee Website ? www.icai.org
Technical Directorate, E-mail ? indascourse@icai.in
ICAI Bhawan, Post Box No. 7100,
Indraprastha Marg, New Delhi – 110002
Official Link of Launching Online Refresher Course – ?Deep Dive into Revenue Standard ? Ind AS 115? Organized by the Ind AS Implementation Committee of ICAI notification can be accessed from below –
https://resource.cdn.icai.org/68942indas55115.pdf
That’s all for now. Stay Connected for more authentic updates.
Jai Hind, Vande Mataram
Team CA Study
