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ICAI proposes to continue relaxation on lease accounting
K.R.Srivats
New Delhi |
Updated on
April 12, 2021
Lease modification requires re-computation of lease liability using discount rate - istock.com/cnythzl×
Move will bring respite to airlines, multiplexes, hotels
With Covid-19 continuing to wreak havoc on the Indian economy, the CA Institute proposed to extend by one year the validity of an existing pandemic induced accounting relief on ‘leases’, bringing some respite especially for players in airlines, retail, multiplexes, hotel and telecom sectors.
If and when approved, the lessees can account for the rent concessions (rent holiday, rent reductions) that they may receive from lessors during the pandemic as if they are not lease modifications for another one year from June 30, say accounting experts. The ICAI which had issued an exposure draft for the proposed change in Ind AS 116 (leases) that became mandatory from April 1, 2019 is now following the Internati
RESUMPTION OF TRADING 2020 ANNUAL RESULTS HIGHLIGHTS Achieved contracted sales for the year ended December 31, 2020 (the Reporting Period ) of RMB18,532.2 million with corresponding gross floor area ( GFA ) of approximately 1,014,003 sq.m.; Revenue for the Reporting Period was RMB5,768.9 million, of which the revenue from property development was RMB5,016.8 million; Gross profit for the Reporting Period was RMB1,045.5 million; Profit for the year, excluding the one-off loss on disposal of the eight real estate project companies, was approximately RMB255.7 million; Land reserves reached a total GFA of 9,598,769 sq.m. and the average cost of land reserves was RMB3,831.5 per sq.m. for the Reporting Period;
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BOGOTA, Colombia, April 9, 2021 /PRNewswire/ Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) ( Ecopetrol ) announced today the filing of its annual report under Form 20-F for the fiscal year ended December 31, 2020 with the U.S. Securities and Exchange Commission (the SEC ).
With the filing of its annual report under Form 20-F the Company complies with its reporting obligations with the U.S. Securities and Exchange Commission (SEC), the New York Stock Exchange (NYSE), its bondholders and lenders.
The annual report includes, among others, the financial statements of Ecopetrol in accordance with International Financial Reporting Standards (IFRS) as adopted by the International Accounting Standards Board that were audited and certified in compliance with internal control over financial reporting by the auditing firm Ernst & Young Audit S.A.S. for the years 2018, 2019 and 2020. Investors may receive a hard copy of Ecopetrol s financial statements fre
and Network International Holdings Plc (LSE: NETW) (the Company ), the leading enabler of digital commerce across the Middle East and Africa (MEA), announces that further to the release of the Company s preliminary results announcement on 8 March 2021, the Annual Report and Accounts for the year ended 31 December 2020 ( 2020 Annual Report ) has been published today and is available on the Company s website at https://investors.networkinternational.ae/. It has also been submitted to the National Storage Mechanism and will shortly be available at https://data.fca.org.uk/#/nsm/nationalstoragemechanism . The appendix to this announcement contains additional information which has been extracted from the 2020 Annual Report for the purposes of compliance with the FCA s Disclosure & Transparency Rules and should be read together with the Company s preliminary results announcement, which can be found at