{"id":271696,"date":"2019-04-29T05:25:31","date_gmt":"2019-04-29T05:25:31","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=271696"},"modified":"2019-04-29T05:25:31","modified_gmt":"2019-04-29T05:25:31","slug":"airlines-likely-to-see-volatility-in-profit-loss-accounts-on-new-accounting-standard","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/airlines-likely-to-see-volatility-in-profit-loss-accounts-on-new-accounting-standard\/","title":{"rendered":"Airlines likely to see &#8216;volatility&#8217; in profit &amp; loss accounts on new accounting standard"},"content":{"rendered":"<p>Financial costs are likely to climb further for airlines in the near term, with new accounting standards on leases set to create &#8220;significant volatility&#8221; in their profit and loss accounts. <\/p>\n<p>Indian Accounting Standard 116 or Ind AS-116 has come into effect from April 1 and pertains to principles for recognition, presentation and disclosure of leases. <\/p>\n<p>The standard, notified by the corporate affairs ministry, would have a significant impact on various industries such as airlines, where aircraft operated are mostly on lease. <\/p>\n<p>It also comes at a time when the domestic airline industry is grappling with tough times due to rise in fuel prices, intense competition, financial issues and infrastructure woes. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial costs are likely to climb further for airlines in the near term, with new accounting standards on leases set to create &#8220;significant volatility&#8221; in their profit and loss accounts. Indian Accounting Standard 116 or Ind AS-116 has come into effect from April 1 and pertains to principles for recognition, presentation and disclosure of leases. The standard, notified by the corporate affairs ministry, would have a significant impact on various industries such as airlines, where aircraft operated are mostly on lease. It also comes at a time when the domestic airline industry is grappling with tough times due to rise [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[192,130,136],"tags":[],"class_list":["post-271696","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/271696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=271696"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/271696\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=271696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=271696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=271696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}