Abhinay Mechineni

• Performed statutory and tax audits for the following entities:
• Manufacturing sector: Tata Power Solar Systems Limited, Yaskawa India Private Limited, TP Solar Limited, Bosch Chassis Systems India Private Limited.
• Energy Sector: Chirasthaayee Saurya Limited.
• IT sector: Citrix R&D India Private Limited, Nasdaq Corporate Solutions India Private Limited, Lam Research India Private Limited.
• Gaming Sector: Gameberry Labs, Private Limited.
• Mobility and Energy Infrastructure: Indofast Swap Energy Private Limited.

Key Learnings:

• IND AS 115 Revenue recognition considerations, especially dealing with issues of principal and agent criteria for recognition of revenue on a gross vs. net basis, accounting for virtual currencies sold by the Company to the end users, and evaluating various legal/statutory aspects, recognizing revenue on the basis of the percentage of completion for EPC business.
• IND AS 116 Lease Accounting, including identification and separation of multiple leases and non-lease components, lease remeasurement, modification, and subleasing.
• IND AS 109: Hedge Accounting (including effectiveness testing).
• IND AS 101 aided in the transition and preparation of financials on an IND AS basis.
• IND AS 102 accounting for stock option plans, including consideration of the Black-Scholes model, and the impact of unvested options on the date of transition to Ind AS.
• IND AS 110: Consolidation of financial statements of the parent with the subsidiary.
• IND AS 23, read with IND AS 16, evaluated the capitalization of interest on external commercial borrowings pertaining to the construction of a capital asset.
• Hands-on experience in tax audit (Form No. 3CD), transfer pricing audit (Form No. 3CEB) read with the TP study, stock audit, and other certifications for special purposes for the above entities.