AS 102: Exposure Draft issued on proposing Accounting Standard for ‘Share Based Payment’
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- Last Updated on 15 July, 2021
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The Indian Accounting Standards (Ind AS), as notified by the Ministry of Corporate Affairs (MCA) are applicable to specified class of companies. However, the Accounting Standards notified under the Companies (Accounting Standard) Rules, 2021 and those issued by the ICAI are applicable to entities to whom Ind AS are not applicable. In the process of upgrading these Accounting Standards in order to keep them aligned with Ind ASs, the Accounting Standard Board (ASB) of the ICAI has issued an exposure draft proposing Accounting Standard 102 Share-based Payments to maintain consistency with the numbering of Standards under Ind ASs. Accordingly, this draft explains the provisions of the revised standard which are under the process of formulation.
One of the major difference between the Ind AS 102 and AS 102 is that revised AS 102 provides guidance regarding Employee Share- based Payment Plan Administered through a Trust whereas Ind AS 102 is silent on the same. The draft is open for public comments by 7 August 2021.
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