Greentick Dialogues : Decoding Accounting of New Age Instruments vis-à-vis Start Up Financing!
- Year of Publication: 2023
- ISBN: 0
Episode Duration:
60 Minutes
Episode Background:
TagZ Foods, a Bengaluru-based snacking company, launched its Consumer Stock Option Plan (CSOP) last year, allowing customers to invest in the company. SaaS unicorn Amagi, on the other hand, introduced an ESOP scheme and a stock appreciation rights scheme (SARs IV) worth more than $24 million last year (over INR 195 Cr). A few days ago, another press report published that TI Clean Mobility Private, a wholly owned subsidiary of Tube Investments of India (TII) and a member of the Murugappa Group, had signed definitive documents to raise capital in the form of equity and CCPS (Compulsorily Convertible Preference Shares) worth up to Rs 1,950 crores. While it is clearly evident that start-ups are turning to new age instruments for financing, it is important to understand the complex accounting considerations involved.
What shall the episode cover?
With an endeavor to add continuous value to our readers and power your accounting practice, India's first Accounting & Ind-AS Platform “Greentick” (https://greentick.taxsutra.com) is back with its exclusive “subscriber-only” thought leadership series titled “Greentick Dialogues” (where renowned accounting & auditing experts share their views/insights on burning accounting issues/controversies). In this context, we bring to you an episode on “Decoding Accounting of New Age Instruments vis-à-vis Start Up Financing" with Accounting Expert Dr. Anand Banka.
1. Discussion on new age instruments like CSOP, SARS, CCPS, etc.
2. Accounting considerations including Debt vs Equity
3. How accounting is impacted by various valuation terms used, for e.g. discount over next round, floor and cap, etc
CA Anand Banka is a Fellow Member of ICAI. He is employed as Technical Head – Financial Reporting with a natural resource company. Anand has over 13 years of experience of accounting and audit, especially in International Financial Reporting Standards (IFRS)/ Indian Accounting Standards (Ind AS) domain. His experience includes implementing IFRS/ Ind AS in companies across sectors. He has been involved in the accounting standard setting process, both Ind AS and AS, with the ICAI. He is also a prolific speaker with seminars across various countries on IFRS, Indian Accounting Standards, Companies Act, etc. Other notable achievements and contributions include: He has Authored the books “Ind AS Simplified”, “Comprehensive Guide to Ind AS Implementation” and “Comprehensive Guide to Indian GAAP”, published by CCH. He is a Special Invitee on the Accounting Standards Board (ASB) of the ICAI. He is one of the best rated faculties for the Certificate Course on IFRS/ Ind AS of ICAI, across India, Nepal and UAE. He has been an “Asian-Oceanian Standard-Setters Group (AOSSG)” Trainer in Nepal for the Nepal IFRS Centre of Excellence. He has been a Coordinator and Faculty for ‘National Mission on Education’ of Ministry of Human Resource Development (MHRD, Govt. of India) for Implementation of Accounting Standards in Educational Institutes like IITs and IIMs. He has been Subject Editor for books on financial accounting and reporting. He has penned several articles that have appeared in professional publications like Bombay Chartered Accountants’ Journal (BCAJ) and WIRC Reference Manual.
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
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Overall Rating
- Year of Publication: 2023
- ISBN: 0
Episode Duration:
60 Minutes
Episode Background:
TagZ Foods, a Bengaluru-based snacking company, launched its Consumer Stock Option Plan (CSOP) last year, allowing customers to invest in the company. SaaS unicorn Amagi, on the other hand, introduced an ESOP scheme and a stock appreciation rights scheme (SARs IV) worth more than $24 million last year (over INR 195 Cr). A few days ago, another press report published that TI Clean Mobility Private, a wholly owned subsidiary of Tube Investments of India (TII) and a member of the Murugappa Group, had signed definitive documents to raise capital in the form of equity and CCPS (Compulsorily Convertible Preference Shares) worth up to Rs 1,950 crores. While it is clearly evident that start-ups are turning to new age instruments for financing, it is important to understand the complex accounting considerations involved.
What shall the episode cover?
With an endeavor to add continuous value to our readers and power your accounting practice, India's first Accounting & Ind-AS Platform “Greentick” (https://greentick.taxsutra.com) is back with its exclusive “subscriber-only” thought leadership series titled “Greentick Dialogues” (where renowned accounting & auditing experts share their views/insights on burning accounting issues/controversies). In this context, we bring to you an episode on “Decoding Accounting of New Age Instruments vis-à-vis Start Up Financing" with Accounting Expert Dr. Anand Banka.
1. Discussion on new age instruments like CSOP, SARS, CCPS, etc.
2. Accounting considerations including Debt vs Equity
3. How accounting is impacted by various valuation terms used, for e.g. discount over next round, floor and cap, etc
CA Anand Banka is a Fellow Member of ICAI. He is employed as Technical Head – Financial Reporting with a natural resource company. Anand has over 13 years of experience of accounting and audit, especially in International Financial Reporting Standards (IFRS)/ Indian Accounting Standards (Ind AS) domain. His experience includes implementing IFRS/ Ind AS in companies across sectors. He has been involved in the accounting standard setting process, both Ind AS and AS, with the ICAI. He is also a prolific speaker with seminars across various countries on IFRS, Indian Accounting Standards, Companies Act, etc. Other notable achievements and contributions include: He has Authored the books “Ind AS Simplified”, “Comprehensive Guide to Ind AS Implementation” and “Comprehensive Guide to Indian GAAP”, published by CCH. He is a Special Invitee on the Accounting Standards Board (ASB) of the ICAI. He is one of the best rated faculties for the Certificate Course on IFRS/ Ind AS of ICAI, across India, Nepal and UAE. He has been an “Asian-Oceanian Standard-Setters Group (AOSSG)” Trainer in Nepal for the Nepal IFRS Centre of Excellence. He has been a Coordinator and Faculty for ‘National Mission on Education’ of Ministry of Human Resource Development (MHRD, Govt. of India) for Implementation of Accounting Standards in Educational Institutes like IITs and IIMs. He has been Subject Editor for books on financial accounting and reporting. He has penned several articles that have appeared in professional publications like Bombay Chartered Accountants’ Journal (BCAJ) and WIRC Reference Manual.
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
