# Financial Reporting & Technical Accounting IFRS and Ind AS implementation, technical accounting positions, consolidation, and the disclosures that come with them. Every judgement in the accounts decided on purpose, and written down while the reasoning is fresh. Financial reporting turns on judgement far more than arithmetic: when revenue is earned, what happens when a lease changes, how large a credit loss is likely to be, who really controls an entity. In many companies those calls were made once, by whoever built the first spreadsheet, and carried forward ever since. We help finance teams make those calls deliberately. A position starts with the text of IFRS, or of Ind AS where Indian reporting applies, and is tested against how the business actually works. It is then written up so that an auditor, an investor, or the next financial controller can follow the reasoning. The work runs from first-time adoption to day-to-day technical advice, group consolidation, and complete financial statements. ## How we help clients ### IFRS and Ind AS conversion First-time adoption for companies moving to IFRS for a foreign parent or investor, or to Ind AS once Indian thresholds apply. We handle the opening balance sheet, the elections and exceptions under IFRS 1 and Ind AS 101, restated comparatives, and the reconciliations lenders read first. - IFRS 1 - Ind AS 101 - GAAP conversion ### Technical accounting positions Position papers on the questions auditors push back on: principal or agent, variable consideration, lease modifications, business combinations, and purchase price allocation. - IFRS 15 - IFRS 16 - IFRS 3 ### Expected credit loss models Provision matrices and staged models built from cohort data, with forward-looking adjustments that can be traced to evidence, and a methodology paper that settles the audit discussion. - IFRS 9 - Ind AS 109 ### Consolidation and group reporting Consolidation through acquisitions, disposals, and changes in non-controlling interests. Group reporting packs follow the parent’s instructions and its timetable. - IFRS 10 - IAS 28 - Group reporting packs ### Financial statement preparation Complete standalone and consolidated statements, with notes, related party disclosures, and accounting policies written from the facts of the business rather than copied from last year. - IAS 1 - IAS 24 - Schedule III ### Reporting for transactions Carve-out and special-purpose financial information for a fundraising, a stake sale, or a lender, prepared on a basis that holds up in diligence. - Carve-outs - Special purpose ## What IFRS 16 does to the numbers, lease by lease Our lease calculator measures the lease liability and right-of-use asset for a single lease, spreads the charge across financial years, and sets out the journal entries. The full workings download as a PDF report. [Open the IFRS 16 lease calculator](https://soniassociates.in/ifrs-16-lease-calculator) Exhibit 1 IFRS 16 front-loads the cost of a lease: ₹12.2 lakh more is charged than paid in the first three years Charge to profit or loss and cash paid by financial year for an illustrative five-year office lease, ₹ lakh *Exhibit graphic: Stacked columns of depreciation and interest against the cash paid in each financial year of a five-year lease* Illustrative lease of ₹2.5 lakh a month, paid monthly in advance from 1 April 2026, rising 5 percent a year, and discounted at 9.5 percent, with financial years ending in March. Depreciation is straight-line; interest falls as the liability is repaid, so the combined charge is highest at the start. Over the full term, the charge equals the cash paid. Source: IFRS 16 Leases, paragraphs 26, 31, and 36 (mirrored in Ind AS 116); SA&A lease calculator Soni Aditya & Associates ## When clients call us ### An auditor has challenged a judgement the file does not support A key audit matter or a qualification is taking shape around an estimate, and the reasoning has to be rebuilt before the report is signed. ### A parent, investor, or threshold now requires IFRS or Ind AS The trigger might be a foreign acquirer, a new investor, or an Indian threshold. The comparatives are usually due sooner than anyone expected. ### A foreign parent needs its first reporting pack Group instructions arrive written for IFRS, with a component auditor’s timetable, and the local books were built for Indian GAAP and tax. ### The group structure changed during the year An acquisition, a partial sale, or a loss of control has turned a routine consolidation into a chain of remeasurements. ### A transaction needs numbers that survive diligence Investors or buyers want historical financial information on a basis the company has never prepared. ### A new standard or amendment takes effect The calculation is usually the smaller task. Contracts, systems, and controls have to change first. ## Our approach ### Standard first, spreadsheet second Every position starts with the paragraphs of the standard and the terms of the contract. The model comes after. ### Written for the reviewer Position papers cite the standard, set out the alternatives considered, and explain why each was rejected. ### Built for the team that inherits it Models come with methodology notes and are handed over to run in-house. We would rather you did not need us for next year’s numbers. ### Reviewed at partner level No technical conclusion reaches a client or an auditor without partner review. ## Examples of our work [All client impact](https://soniassociates.in/case-studies) Technology · Financial Reporting ### [Rebuilding an expected credit loss model for a listed IT services company with US$855 million in receivables](https://soniassociates.in/case-ecl-model-listed-it-services) US$855mn Gross trade receivables covered by the model Energy & Infrastructure · Financial Reporting ### [Converting a six-SPV renewable energy platform to IFRS-converged Ind AS, entity by entity and on consolidation](https://soniassociates.in/case-ind-as-conversion-renewable-platform) 6 SPVs converted to Ind AS at the same time Diversified group · Financial Reporting ### [Consolidating a thirteen-entity group through a mid-year sale of a majority stake](https://soniassociates.in/case-consolidation-thirteen-entity-group) 13 Entities consolidated, including subsidiaries and associates ## Featured insights [More insights](https://soniassociates.in/insights?topic=financial-reporting) Article · The Audit-Ready Company ### [Selling a majority stake mid-year: consolidation through a loss of control](https://soniassociates.in/insight-loss-of-control-consolidation) August 12, 2026 · 12 min read Article · The Audit-Ready Company ### [What lease accounting demands after the adoption project ends](https://soniassociates.in/insight-ind-as-116-lessees) July 8, 2026 · 10 min read Article · The Audit-Ready Company ### [The judgements auditors test in an expected credit loss model](https://soniassociates.in/insight-ecl-models-audit-scrutiny) June 10, 2026 · 11 min read ## Related ### [Technology & AI](https://soniassociates.in/tech-and-ai) AI-assisted review reads whole contract populations for lease and revenue terms, so IFRS 16 and IFRS 15 conclusions rest on every contract rather than a sample. A person checks each extraction before it reaches the accounts. ### [Audit-readiness diagnostic](https://soniassociates.in/audit-readiness-diagnostic) Fifteen statements, about four minutes, and a scored view of where your audit exposure is concentrated. ### [The Brief](https://soniassociates.in/subscribe) Our fortnightly read on reporting, tax, and structure for CFOs, controllers, and founders. [![Aditya Soni](https://soniassociates.in/assets/img/aditya-soni.jpg)](https://soniassociates.in/aditya-soni) ### [Aditya Soni](https://soniassociates.in/aditya-soni) Founding Partner, Pune Leads the firm’s work in financial reporting. Advises companies and families on financial reporting, audit readiness, group structure, and tax. Previously in the Assurance practice of Ernst & Young in Pune. [Full profile](https://soniassociates.in/aditya-soni) [LinkedIn](https://www.linkedin.com/in/in-aditya/) Industries [Energy & Infrastructure · Renewable platforms, SPV portfolios, and infrastructure developers reporting to lenders and investors.](https://soniassociates.in/industry-energy-infrastructure) [Technology & IT Services · SaaS, IT services, and global capability centres dealing with revenue, equity, and cross-border complexity.](https://soniassociates.in/industry-technology) [Financial Services & NBFCs · NBFCs, fintech lenders, and investment platforms reporting under IFRS-converged Ind AS and supervised under scale-based regulation.](https://soniassociates.in/industry-financial-services) Other capabilities [Audit, Assurance & Transaction Support](https://soniassociates.in/service-audit) [Finance Function Transformation](https://soniassociates.in/service-finance-transformation) [Cross-Border & Multi-Jurisdiction Advisory](https://soniassociates.in/service-cross-border) [Corporate Structuring & Tax](https://soniassociates.in/service-corporate-structuring) ## Talk to our Financial Reporting practice Tell us what you are working on. A first conversation carries no obligation, and confidentiality applies from the first email. [Contact us](https://soniassociates.in/contact?topic=financial-reporting) [LinkedIn](https://www.linkedin.com/in/in-aditya/) --- Soni Aditya & Associates, Chartered Accountants. Office No 502, Unit 507, 5th Floor, 45 Baner Street, Baner, Pune, Maharashtra 411045, India. aditya@soniassociates.in · +91 93400 75288 · https://soniassociates.in/contact This website is published for general information, in keeping with the guidelines of the Institute of Chartered Accountants of India on members’ websites. It does not advertise or solicit work, and nothing on it is professional advice. Publications reflect the law and standards at the date they were written, so please take advice on your own facts before acting. Client engagements described here are anonymised. Site index for agents: https://soniassociates.in/llms.txt Canonical page: https://soniassociates.in/service-financial-reporting