292 / 300
Notes forming part of onancial statements (Contd.)
292
•
Annual Report 2016-17
Financial liabilities of
`
156.52 million as at April 1, 2015 and
`
113.39 million as at March 31, 2016 have been reclassioed
from other current liabilities to other current onancial liabilities in accordance with Ind AS compliant Schedule III.
Note 3
Under Indian GAAP, the long-term investments (investments in equity shares and mutual funds) are stated at cost as
reduced by the permanent diminution in value of investment, if any. The short-term investments (current portion of
mutual funds) are stated at lower of cost and market value. Under Ind As, the investments in mutual funds and equity
shares are stated at their fair values. The impact arising on this change is summarized as follows:
(In
`
Million)
Particulars
1-Apr-15 YE 31-Mar-16
Statement of proot and loss
Other income
-
(14.17)
Balance sheet
Non-current investments - Mutual Funds
163.63
104.15
Current investments - Mutual Funds
41.48
86.81
Adjustment to retained earnings
205.11
-
Interest accrued on investments of
`
29.00 million as at April 1, 2015 and
`
17.22 million as at March 31, 2016 has been
reclassioed to non-current investments from other non-current assets and other current assets.
Note 4
Under Indian GAAP, the long-term security deposits are recognized at the transaction value. Under Ind AS, the long-
term security deposits (onancial assets) are recognized at the fair value under amortized cost method. The difference
between the fair value and the transaction value is considered as prepaid rent and amortized over the period of lease.
The onance income is recognized on the amortized cost of security deposits for the reported period. The impact arising
on this change is summarized as follows:
(In
`
Million)
Particulars
1-Apr-15 YE 31-Mar-16
Statement of proot and loss
Other expenses (Rent)
-
2.72
Other income (Miscellaneous income)
-
2.39
Balance sheet
Non current loans - Security deposits
(15.03)
(16.02)
Other non current assets (Advances recoverable in cash or kind or for value to be
received)
13.57
14.22
Adjustment to retained earnings
(1.46)
-
Interest accrued on loan given of
`
2.62 million as at March 31, 2016 has been reclassioed from other current assets to
Non-current loans in accordance with Ind AS compliant Schedule III.
Note 5
Under Indian GAAP, the actuarial gain / loss on deoned beneot obligations and plan assets is recognized as employee
beneot expenses in the statement of proot and loss. Under Ind AS, such actuarial gain / loss is recognized under other
comprehensive income and classioed as equity. The impact arising on this change is summarized as follows:
(In
`
Million)
Particulars
1-Apr-15 YE 31-Mar-16
Statement of proot and loss
Employee beneot expenses
-
182.88
Balance sheet
Other comprehensive income
-
182.88