Financial Reporting, Beyond the Standard.
Ind AS | Indian GAAP
Understand the standard. Analyse the issue. Apply the principle. Document the conclusion.
GAAP Advisors brings technical knowledge and practical application together for companies, audit firms, finance professionals and students.
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From accounting issues and financial statement reviews to learning resources, publications, videos and podcasts — one ecosystem for better financial reporting.
A specialised financial reporting knowledge & consulting platform.
GAAP Advisors bridges technical depth with practical, scalable solutions across Indian and international GAAPs.
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Standards are the starting point. Application is the real challenge.
Financial reporting becomes complex when principles have to be applied to actual transactions, contracts, business models and financial statements.
GAAP Advisors focuses on the complete journey — from interpretation and analysis to documentation, presentation and disclosure.
Explore Advisory →A technical ecosystem built for financial reporting professionals.
Searchable, practical and designed to help professionals learn, analyse, apply and stay updated.
When the accounting issue is complex, get beyond a generic answer.
Practical assistance designed around the facts, the applicable principles and the financial reporting outcome.
Issue-Based Consulting
Technical analysis of specific accounting and financial reporting issues under Ind AS and Indian GAAP.
Financial Statement Review
Focused technical review to identify presentation, disclosure and application areas requiring attention.
First-Time Adoption
Support for entities transitioning to Ind AS and navigating implementation considerations.
Hedge Documentation
Technical support for documenting hedge accounting relationships and related reporting requirements.
Training & Workshops
Practical training programmes for companies, audit firms, finance teams and professionals.
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Collaborative technical capability for small and medium audit firms through online advisory and knowledge resources.
Ind AS. Explained Through Practice.
Explore practical explainers, accounting issues, case studies, financial statement observations, developments and discussions where accounting standards meet real-world application.
CA Manish C. Iyer
Founder & Conceptualiser, GAAP Advisors
Professional qualifications
Professional qualification
Financial reporting
Ind AS application
Technical experience that shapes the GAAP Advisors ecosystem.
GAAP Advisors was founded and conceptualised by CA Manish C. Iyer, a financial reporting professional with extensive experience in Ind AS and Indian GAAP.
He is a former Deputy Director of the Technical Directorate of ICAI and former Secretary to the Accounting Standards Board of ICAI, and has authored 16 eBooks on Ind AS.
Connect with CA Manish C. Iyer →16 Books on Ind AS Application.
Authored by CA Manish C. Iyer, the collection is designed to support professionals who want to move beyond theoretical understanding and focus on practical application.
Available as downloadable PDF and on Amazon Kindle.
Built for people who take financial reporting seriously.
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Financial reporting support for SMEs, corporates, startups and public sector enterprises.
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Technical support, consultation, training and collaborative financial reporting capabilities.
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Practical resources for CFOs, controllers, accountants and financial reporting professionals.
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Conceptual clarity and practical learning through books, TASK and Ind AS Clinic content.
Audit Committees & Boards
Technical perspective on significant accounting and financial reporting matters.
Financial Reporting Ecosystem
One connected platform for knowledge, learning, discussion and advisory.
Practical tools for financial reporting work.
Four free, browser-based tools built for financial reporting professionals. Pick the one you need.
Document Anonymiser
Redact client names, PAN, GSTIN, CIN and other identifiers from Word, Excel, PowerPoint and PDF files before you share them. Processed entirely in your browser.
Open the Anonymiser →Material Accounting Policy Analyser
Test an accounting policy against the Ind AS 1.117 materiality criteria and the paragraph 10A profit-or-loss / OCI requirement.
Open the Analyser →Ind AS 33 EPS Calculator
Compute basic and diluted EPS with full paragraph-level workings, covering every Appendix A adjustment — options, convertibles, contingently issuable shares, written puts and more.
Open the Calculator →XIRR & Amortised Cost Calculator
Solve XIRR from a dated cash flow stream and generate the effective-interest amortised cost schedule, with an Excel download of the full working.
Open the Calculator →Anonymise a financial statement before you share it.
Redact or replace client names, PAN, GSTIN, CIN and other identifiers from Word, Excel, PowerPoint and PDF files — processed entirely in your browser. Nothing is uploaded to any server.
Good to know — please read before uploading
- Text only: content embedded inside images, scanned pages, charts, SmartArt, and OLE objects is not scanned.
- Word/PowerPoint: when a match spans more than one formatting run, that portion of the paragraph is simplified to a single run's formatting.
- PDF: each page is rendered at full resolution and matched text is blacked out. Where you gave a replacement (anonymise) or a pattern produced a label like [PAN-1], that text is drawn onto the box so the page stays readable; where "Replace with" was left blank (pure redaction), the box stays solid black with nothing drawn on it. Either way the file is rebuilt as a lossless, image-based PDF — no hidden text survives beneath a black box, but the entire output also loses selectable/searchable text, not just the changed parts. Zoom in on sensitive areas before sending it on. Very long documents may be split into two or more output files (part 1, part 2, ...) to keep each one reliably within the browser's size limits — image quality is never reduced to avoid this.
- Two console messages are normal and don't indicate a problem: "Setting up fake worker" (PDF.js running on the main thread instead of a background one — just slower) and "TT: undefined function" (a quirk in one embedded font, safely skipped).
- Only exact text and the listed formats are matched — the tool does not infer which words are names on its own; add those to the custom list above.
- Always review the output file yourself before sharing it outside your firm.
1. Choose a file
Accepted formats: .docx, .xlsx, .pptx, .pdf
2. Terms to redact or anonymise
Add the client, entity, or individual names you want handled. Give a value in "Replace with" to anonymise — every occurrence becomes that consistent, readable stand-in (e.g. "[Company A]"), including on PDF pages, where it's drawn onto the covered area. Leave "Replace with" blank to redact instead — the text is simply blacked out / removed with nothing put in its place.
| Find (exact text) | Replace with |
|---|
3. Auto-detect common identifiers
Format-based patterns, mainly relevant to Indian statutory identifiers. Each unique value found is replaced with a numbered label (e.g. [PAN-1]) so repeated references stay distinguishable without revealing the value.
4. Process
Test a policy against the Ind AS 1 materiality criteria.
Paste or upload an accounting policy extract. The tool applies the Ind AS 1.117 two-limb materiality test and the paragraph 10A profit-or-loss / OCI requirement, and returns a definite conclusion with a compliant redraft.
How the analysis is performed
- Primary condition — does it relate to a material class of transactions, events or conditions, and does it meet the definition of an accounting policy under Ind AS 8.5 (as distinct from a statement of compliance, basis of measurement, or use of judgements/estimates)?
- Secondary conditions — at least one of: a policy change with material effect, a choice made among alternatives permitted by an Ind AS, a policy developed under the Ind AS 8.10–12 hierarchy, an area of significant judgement or estimation (Ind AS 1.122/125), complexity spanning multiple standards, or disclosure specifically required by a standard.
The conclusion is always one of: Retain, Need not be disclosed, Move to Notes, Not an Accounting Policy, or Shall not disclose.
Analyse one policy caption at a time. If a note has several sub-policies (e.g. PPE, leases, employee benefits), paste or upload each one separately for a fully para-referenced analysis.
PDF uploads must contain selectable text — scanned or image-only PDFs are not OCR'd. If upload fails, copy the policy text and paste it above instead.
This tool produces an indicative, AI‑generated analysis based on Ind AS 1 (paragraphs 117 and 10A) and Ind AS 8 (paragraph 5). The policy text you enter is sent to Google's Gemini API for analysis, so avoid including unredacted client-identifying details. This is not a substitute for professional judgement and should be reviewed by a qualified professional before use in any statutory filing or financial statement.
Compute basic and diluted EPS under Ind AS 33.
Every field is tagged with its governing paragraph, including the full set of Appendix A application-guidance mechanics — rights issues, options and warrants, convertible instruments, contingently issuable shares, written puts, partly paid shares, participating instruments and subsidiary/JV/associate holdings.
Earnings Per Share Workpaper
Basic and diluted EPS computed in accordance with Ind AS 33, Earnings per Share, including every dilutive-instrument mechanic set out in Appendix A — Application Guidance (¶A1–A16), which is an integral part of the Standard. Every field below is tagged with its governing paragraph. All figures are entered once and flow through to the antidilution sequencing test in the Summary section.
1. Basic EPS — Earnings ¶9, 12–18
Basic EPS numerator is profit or loss attributable to ordinary equity holders of the parent, i.e. reported profit adjusted for the after-tax effect of preference dividends and other preference-share items ¶12. Enter profit from continuing operations separately — it is the "control number" used later to test dilution ¶42.
Preference dividend deduction ¶12(a), 13, 14
Other preference-share adjustments
3. Options, Warrants & Employee Share Options ¶45–48, 47A, A6–A9
Dilutive options/warrants are treated under the treasury-stock method: assumed proceeds are treated as used to reacquire shares at the average market price; the shortfall is issued "for no consideration" and is the dilutive increment ¶45–46. Only "in the money" instruments (average price > exercise price) are dilutive ¶47.
Option / warrant tranches
| Description | No. of options/warrants | Exercise price | Ind AS 102 fair value of unrendered services per option ¶47A |
|---|
Advanced settlement mechanics (Appendix A6–A9) — optional
4. Convertible Instruments ¶49–51
Dilutive effect reflected via the ¶33/36 mechanics: add back the after-tax interest (debt) or the dividend (preference) that was deducted in arriving at basic earnings, and add the ordinary shares issuable on full conversion ¶49. A convertible instrument is antidilutive when its per-share yield on conversion exceeds basic EPS ¶50 — flagged automatically below and finally settled in the Section 12 sequencing test.
| Description | Type | Units outstanding | Shares issuable per unit | Interest / dividend for the period | Tax rate % (debt only) |
|---|
5. Contingently Issuable Shares ¶24, 52–57
Contingently issuable shares enter basic EPS only once all conditions are unconditionally satisfied ¶24. They enter diluted EPS based on the position as if the end of the reporting period were the end of the contingency period ¶52–56, using whichever basis — earnings, market price, both, or another condition — the agreement specifies.
| Description | Condition basis | Threshold profit ¶53 | Rs. per share block | Shares issuable per block | Profit attained YTD | Direct share count (price / other / combined) | Unconditionally satisfied? ¶24 | Date satisfied |
|---|
7. Purchased Options ¶62
Contracts under which the entity holds put or call options over its own ordinary shares are never included in diluted EPS — economically, they are only ever exercised when doing so would be antidilutive ¶62. No adjustment is made; this section is a disclosure reminder.
8. Written Put Options ¶63, A10
Where the entity has written a put option (or forward purchase contract) obliging it to repurchase its own shares, and the contract is "in the money" (exercise price above the average market price), the dilutive effect is the incremental shares the entity must assume it issues to raise the repurchase proceeds ¶63, A10.
| Description | No. of shares under the put | Exercise / settlement price | Average market price (if different from Section 3) |
|---|
9. Partly Paid Shares A15–A16
To the extent partly paid shares are entitled to participate in dividends, include them in the basic-EPS denominator as a fraction of a fully paid share A15. To the extent they are not so entitled, treat them like an option/warrant in diluted EPS: the unpaid balance is assumed to be applied to purchase ordinary shares at the average market price A16.
Basic EPS — participating fraction A15
Diluted EPS — unpaid balance treated as an option A16
10. Participating Instruments & Two-Class Ordinary Shares A13–A14
Where equity includes instruments that participate in dividends with ordinary shares on a predetermined formula, or a second class of ordinary shares with a different dividend rate, profit is first reduced by declared/contractual dividends for each class, and the remainder is allocated between classes by their participation rights A13–A14. This produces a separate EPS figure per class and is presented alongside — not merged into — the ordinary-share EPS above, unless the class is convertible and dilutive.
Ordinary shares (base class, participation weight = 1)
Participating class(es)
| Description | Shares/units outstanding | Distributed dividend per unit (declared or contractual) A14(a) | Participation ratio vs. one ordinary share | Convertible into ordinary — assume conversion if dilutive A14 |
|---|
11. Instruments of Subsidiaries, Joint Ventures or Associates A11–A12
Where a subsidiary/JV/associate has issued potential ordinary shares convertible into its own shares or into the reporting entity's shares, the parent's proportionate interest in the subsidiary's basic and diluted earnings attributable to the instruments it holds is added to the parent's own EPS A11–A12. This mirrors Ind AS 33 Example 10.
Parent's holdings of the subsidiary's instruments
| Description | Holding type | Parent's holding (units) | Subsidiary's total units outstanding (convertible/warrant only) | Subsidiary's incremental shares on assumed conversion/exercise (convertible/warrant only) | Distribution received per unit while unconverted (0 for pure warrants) |
|---|
12. Sequencing & Diluted EPS ¶30–44, A3
All dilutive potential ordinary shares are tested against profit or loss from continuing operations attributable to ordinary equity holders — the "control number" ¶42 — considered in sequence from most dilutive (lowest earnings per incremental share) to least, so as to maximise dilution ¶44. An instrument is excluded the moment its inclusion would increase EPS (or decrease loss per share) from continuing operations ¶41, 43. Once included on that basis, an instrument is reflected in every EPS figure presented — continuing, discontinued and total — even where antidilutive to those other figures individually A3.
| Instrument | Section / ¶ | Incremental earnings | Incremental shares | Earnings per incremental share | Decision | Cumulative diluted EPS (continuing ops) |
|---|
13. Retrospective Adjustments, Presentation & Disclosure ¶64–73A
Retrospective adjustments ¶64–65
Bonus issues, share splits and reverse splits are applied to all periods presented, including changes occurring after the reporting period but before the financial statements are approved for issue — disclose that fact ¶64. Diluted EPS of a prior period is never restated for a change in assumptions or for the actual conversion of potential ordinary shares ¶65.
Presentation & disclosure checklist
Solve XIRR and generate the amortised cost schedule.
Enter a dated cash flow stream to derive its XIRR and the corresponding effective-interest amortisation table — or, where every flow runs the same direction, discount the stream to a present value instead and amortise from there.
XIRR & Amortised Cost Workpaper
Amortised cost computed on the effective interest method, consistent with the approach in Ind AS 109 / IFRS 9, using Actual/365 day-count compounding — the same day-count basis used by common spreadsheet XIRR functions.
Cash flow schedule
Use a negative amount for outflows (investment, disbursement, amount paid) and a positive amount for inflows (return, receipt, amount received). Dates need not be entered in order.
| Date | Cash flow amount |
|---|
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