PwC ReportingPerspectives - January 2018

Feb 01, 2018

The 13th edition of our quarterly newsletter PwC ReportingPerspectives covers the latest developments in financial reporting as well as other regulatory updates.

Ind AS 23, ‘Borrowing costs’, is one of the shortest standards in Ind AS. However, practical implementation of this seemingly simple standard often raises questions for which the standard provides limited guidance. In this edition, we take a close look at some of the practical questions that arise on application of Ind AS 23.

On 22 December 2017, the US President Donald Trump signed tax reform legislation which includes a broad range of tax reform proposals affecting businesses involving US operations. We have provided an overview of the key provisions of the US tax reform and the accounting implications of such tax law changes.

This edition also covers the key recommendations of the report submitted by the committee on corporate governance formed by the Securities and Exchange Board of India (SEBI), the amendments arising from the Financial Accounting Standards Board’s (FASB’s) revised guidance on the definition of a ‘business’ and International Accounting Standards Board's (IASB’s) annual improvements to the IFRS 2015–2017 Cycle.

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