The Developers’ Disclosure Guide to Ind AS 115

Ministry of Corporate Affairs (MCA) brought Ind AS 115 as part of the Companies Amendments Rules 2018. Ind AS 115 replaces Ind AS 11and 18 which are related to revenue and construction contracts. MCA has introduced Ind AS 115 with an objective to establish the principles that an entity should apply, to report useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows, arising from a contract with a customer.