Section 118 in The Companies (Indian Accounting Standards) Rules, 2015
118. An entity shall provide an explanation of the significant changes in the contract asset and the contract liability balances during the reporting period. The explanation shall include qualitative and quantitative information. Examples of changes in the entity's balances of contract assets and contract liabilities include any of the following:
(a)changes due to business combinations;(b)cumulative catch-up adjustments to revenue that affect the corresponding contract asset or contract liability, including adjustments arising from a change in the measure of progress, a change in an estimate of the transaction price (including any changes in the assessment of whether an estimate of variable consideration is constrained) or a contract modification;(c)impairment of a contract asset;(d)a change in the time frame for a right to consideration to become unconditional (ie for a contract asset to be reclassified to a receivable); and(e)a change in the time frame for a performance obligation to be satisfied (ie for the recognition of revenue arising from a contract liability).Performance obligations
