{"id":179,"date":"2022-05-10T17:14:51","date_gmt":"2022-05-10T17:14:51","guid":{"rendered":"https:\/\/jupiterx.artbees.net\/business-2\/?p=179"},"modified":"2022-07-09T04:25:02","modified_gmt":"2022-07-09T04:25:02","slug":"cybersecurity-in-the-era-of-work-from-home","status":"publish","type":"post","link":"https:\/\/sggk.in\/?p=179","title":{"rendered":"Restatement \u2013 Business combination under common control"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"179\" class=\"elementor elementor-179\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a76af71 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a76af71\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;},&quot;_id&quot;:&quot;cec0fab&quot;,&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:null,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-520f5e7\" data-id=\"520f5e7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-134a232 elementor-widget elementor-widget-heading\" data-id=\"134a232\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Restatement \u2013 Business combination under common control<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-270f877 elementor-widget elementor-widget-text-editor\" data-id=\"270f877\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Resolved &#8211; No requirement to present third balance sheet in case of business combination. ITFG Bulletin 22 date Oct 14, 2019\u2013 Issue 5.<br \/><br \/>If you have either faced the scenario of business combination under common control or have audited (applicable to me) such scenario, you would have wondered about the requirement of presenting third balance sheet. This was a questionable topic till there was a clarification from ITFG.<br \/><br \/>As per Para 9, Appendix C of Ind AS 103, financial information in the financial statements in respect of prior periods should be restated as if the business combination had occurred from the beginning of the preceding period in the financial statements, irrespective of the actual date of the combination.<br \/><br \/>By this clarification, ITFG has relieved industry from presenting third balance sheet, in case the business combination under common control has occurred after the first day of the comparative period. The requirement continues if the business combination was prior to the first day of the comparative period.<br \/><br \/>Though there is a clarification on this issue, we still see industry proposing for restatement and hence this attempt.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1cbd19b elementor-widget elementor-widget-raven-image\" data-id=\"1cbd19b\" data-element_type=\"widget\" data-widget_type=\"raven-image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"raven-image\">\n\t\t\n\t\t\n\t\t<img loading=\"lazy\" decoding=\"async\" width=\"754\" height=\"400\" src=\"https:\/\/sggk.in\/wp-content\/uploads\/2020\/05\/blog-details-img-2.jpg\" class=\"attachment-full size-full\" alt=\"\" srcset=\"https:\/\/sggk.in\/wp-content\/uploads\/2020\/05\/blog-details-img-2.jpg 754w, https:\/\/sggk.in\/wp-content\/uploads\/2020\/05\/blog-details-img-2-300x159.jpg 300w\" sizes=\"auto, (max-width: 754px) 100vw, 754px\" \/>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02600a0 elementor-widget elementor-widget-raven-divider\" data-id=\"02600a0\" data-element_type=\"widget\" data-widget_type=\"raven-divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"raven-widget-wrapper\">\n\t\t\t<div class=\"raven-divider\">\n\t\t\t\t<span class=\"raven-divider-line raven-divider-solid\"><\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0658f44 elementor-widget elementor-widget-raven-post-meta\" data-id=\"0658f44\" data-element_type=\"widget\" data-widget_type=\"raven-post-meta.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"raven-inline-items raven-icon-list-items raven-post-meta\">\n\t\t\t\t\t<li class=\"raven-icon-list-item elementor-repeater-item-d801c92 raven-inline-item\" itemprop=\"about\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"raven-icon-list-text raven-post-meta-item raven-post-meta-item-type-terms raven-terms-list\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"raven-post-meta-terms-list\">\n\t\t\t\t<span class=\"raven-post-meta-terms-list-item\">Chartered Accountants<\/span>, <span class=\"raven-post-meta-terms-list-item\">SGGK &amp; Co LLP<\/span>\t\t\t\t<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Restatement \u2013 Business combination under common control Resolved &#8211; No requirement to present third balance sheet in case of business combination. ITFG Bulletin 22 date Oct 14, 2019\u2013 Issue 5. If you have either faced the scenario of business combination under common control or have audited (applicable to me) such scenario, you would have wondered [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[58,57],"class_list":["post-179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-chartered-accountants","tag-sggk-co-llp"],"acf":[],"_links":{"self":[{"href":"https:\/\/sggk.in\/index.php?rest_route=\/wp\/v2\/posts\/179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sggk.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sggk.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sggk.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sggk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=179"}],"version-history":[{"count":11,"href":"https:\/\/sggk.in\/index.php?rest_route=\/wp\/v2\/posts\/179\/revisions"}],"predecessor-version":[{"id":1275,"href":"https:\/\/sggk.in\/index.php?rest_route=\/wp\/v2\/posts\/179\/revisions\/1275"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sggk.in\/index.php?rest_route=\/wp\/v2\/media\/22"}],"wp:attachment":[{"href":"https:\/\/sggk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sggk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sggk.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}