Transitioning to Ind AS 118 - How different will your Income Statement look from FY2027?

The Exposure Draft of Ind AS 118, Presentation and Disclosure in Financial Statements, proposed to take effect for annual periods on or after 1 April 2027, is expected to enhance disclosures, improve presentation and make stakeholders better informed in their decision-making.

The first part of our publication series, Transitioning to Ind AS 118 - How different will your Income Statement look from FY2027?, gave a high-level overview of the proposed changes, including a worked example to understand key changes. The second part covered key proposals relevant for classifying transactions under the investing category.

In Part 3, we cover the proposed criteria and key principles for classifying income and expenses in the financing and operating categories, supported by practical examples.

The forthcoming parts of this series will continue to explore the key aspects of Proposed Ind AS 118, offering deeper insights and illustrative examples. Stay tuned!

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