Explain the provisions of Indian accounting standards regarding intra-group transactions.
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Explain the provisions of Indian accounting standards regarding intra-group transactions.
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The Indian Accounting Standards Ind AS provide guidance on how to account for intragroup transactions which are transactions between entities within the same group The key provisions regarding intragroup transactions under Ind AS are as follows 1 Recognition and measurement Ind AS requires that intragroup transactions be recognized and measured at the amount agreed upon by the transacting parties which is usually the transfer price If the transfer price differs from the fair value adjustments may be required to reflect the fair value of the transaction ...View the full answer
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