IndAS 109 completely altered the financials of ICICI Securities!
Ramanujam Narayan
CEO, CFO at Contetra| Helping CFOs to Save Time & Costs with ERP Implementations & Re-implementations, Process Optimizations| Enabling FIN leaders with IndAS/IFRS /GAAP Advisory, Batch Training & Contractual Resourcing
Ever wondered how brokerage houses like ICICI Securities make money and boost their net worth?
Our CEO & CFO, and an Ind AS / IFRS Trainer – Mr. Ramanujam Narayan speaks about how IND AS 109 completely altered the financials of ICICI Securities!
The adoption of Ind AS 109 brought significant changes in their accounting approach for mutual fund investments.
Now, they account for mutual funds at fair value, directly impacting their profit and loss statement. This clever tactic has boosted their net worth substantially.
However, tax implications and compliance with regulations add complexity to the game.
It's a fascinating world of finance behind the scenes!We hope you found this insightful.