ICAI Launching Online Refresher Course – ‘Deep Dive into Revenue Standard – Ind AS 115’

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 online refresher course –

‘Deep Dive into Revenue Standard – Ind AS 115’. For registration, kindly visit the link(s) below: –

Total sessions – 5 || Session Duration – 3 hours per session (includes session break as decided by the faculty).

This course is for: –

  • Members who have already completed or are currently undergoing the ‘Certificate Course on Indian Accounting Standards (Ind AS)’.
  • Members who have experience in Ind AS and would like to have some more understanding on the topic.
  • Members who would like to quench their intellectual curiosity on Ind AS.

Session schedule, faculty details & timings:

Deep Dive Into Revenue Standard – Ind AS 115
    Day    Topic    Date & Time    Faculty Name
              Day 1Introduction, Core Principles & Scope of Ind-AS 115 Revenue from Contracts with CustomersBrief Overview of the Five Step Model for Revenue RecognitionDeep Dive into Step 1 – Identifying a contract (with case studies)Key attributes of a contract with customerContract 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 2Deep Dive into Step 3 – Determining the transaction priceImpact 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 obligationsHow to determine Standalone Selling PriceHow to allocate the transaction price to separate performance obligations (with case studies) Treatment of Loyalty ProgrammesExamples 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 satisfiedIndicators of, when Control is transferredMeasuring Progress towards Satisfaction of Performance ObligationWhen a performance obligation is satisfied over time vs. a point-in- timeRevenue 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 5Key Application guidanceHow to deal and treatment of the following: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 requirementsExamples 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 “first-come, first-serve basis”. In case refund/admission cancellation request has been received from the member for any reason, 10% of 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, 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

With Warm Regards,

Chairman, Ind AS Implementation Committee