About this book

This book contains compilation of 51 issues that required application of Ind AS 116, Leases, in issue repository of https://gaapadvisors.com.

Each issue has been identified with issue id in issue repository. The solutions to some of the issues discussed herein are not the same as in the issue repository. The solution to the issues has been updated based on standards amended till 12 August 2024. The issues have been submitted by registrants on https://gaapadvisors.com . I have edited the issues submitted for grammatical errors and unclear or vague language to the extent possible. There is an inherent limitation in such compilation that the issues submitted may not provide complete facts of the case and may not have professional level of drafting. Also, because of incomplete facts, the solution to the issue may be based on assumptions. However, the advantage of such a compilation is that it contains issues faced while applying Ind AS. The views expressed are my personal views and the same are not binding on the reader. The reader is cautioned to seek the help of an expert before acting or refraining from any action based on the solution to issues given in this compilation. The book is aimed as a reference book. Therefore, response to each issue has been discussed with complete conceptual discussion regardless of the same being repeated. Repetition is the mother of learning. The repetition of the conceptual discussions will help in learning the concepts in depth.