000			01873nam a2200193 4500
999			_c50902 _d50902
003			OSt
005			20190114123147.0
008			190114b ||||| |||| 00| 0 eng d
100			_aGupta, Ambrish _932885
245			_aEvaluation of the Impact of IND AS 113 Fair Value Measurement on Financial Statements
300			_a7-22 p
520			_aFair value is the mantra of today in financial reporting across borders. In India also, the Institute of Chartered Accountants of India (ICAI) converged its accounting standards with IFRSs and accordingly, corporate financial statements beginning accounting year 2016-17 started disclosing financial figures based on fair value measurement. One of the purposes of fair value measurement is to narrow the gap between balance sheet value and market value of a company. Fair value measurement aims at fair recording of a business transaction so that the financial statements are able to show a true and fair view of the profitability and financial position. Fair value measurement can be applied to different elements of financial statements. I put this measurement basis to test through a case with reference to fair value mechanism applicable to purchase of current investments and their continuing holding on the balance sheet date. The results clearly supported the philosophy behind the fair value measurement basis. To sum up, it was found that the FV measurement does away with window dressing, makes the financial statements more transparent, closer to real market value, less volatile, and more predictable in accordance with the principle of substance over form, which is becoming all pervasive now.
653			_aBlock Deal
653			_aFair Value
653			_aFASB
653			_a Financial Reporting,
773	0		_029384 _973058 _aGILANI,S. _o5559618 _tINDIAN JOURNAL OF FINANCE _x0973-8711
942			_2ddc _cJA-ARTICLE