Welcome to our “Uniqus’ ASC Insights Series: Guide to Accounting Standards,” where we combine our collective wisdom to understand various Accounting Standard Codifications (ASCs) comprehensively and in a crisp manner. This series is an invaluable tool for accounting professionals, offering detailed explanations, illustrative examples, and our expert point of view. Designed to support your professional journey, this guide helps you navigate complex accounting scenarios and deepen your knowledge. ASC 280 provides guidance on Segment Reporting requirements for public entities. With the objective to enable users of financial statements to “see a company’s business performance through the eyes of management”, ASC 280 provides the principles for segment reporting in financial statements.
Business combinations are often pivotal transactions for the entities involved. A critical aspect of these transactions is the recognition of goodwill, an asset that captures the premium paid over the identifiable net assets of the acquired business. Goodwill plays a significant role in reflecting the strategic value and future economic benefits anticipated from the acquisition. Business combinations are instrumental in shaping the global economy, with transactions reported in 2023 totalling an impressive US$3.2 trillion.
“Uniqus’ ASC Insights Series: Guide to Accounting Standards”, is where we combine our collective wisdom to understand various Accounting Standard Codifications (ASCs) comprehensively and in a crisp manner. This series is an invaluable tool for accounting professionals, offering detailed explanations, illustrative examples, and our expert point of view. Designed to support your professional journey, this guide helps you navigate complex accounting scenarios and deepen your knowledge.
She discussed the significant strides Indian companies are making towards net-zero targets. Anu highlighted the necessity of integrating ESG considerations into operational decision-making and compliance. She also touched on the challenges and progress in ESG reporting.