Applicable for May 2020 Exam
The New Edition of Students’ Guide on Financial Reporting – For CA Final Course, comes with a Refreshing style and presentation, with the following special features
Complete Coverage of the CA Final Financial Reporting New Syllabus
Effective Coverage of all Ind AS principles along with Numerical and Concept Illustrations
Content Update on Schedule III with Practical Questions and Presentation Guidelines
Coverage of Guidance Notes on Accounting Matters, issued by the ICAI, as per Syllabus
Use of Diagrams, Tables and Flowcharts for higher clarity of concepts
Solved Illustrations as guidance to the Student on how to present answers in Professional Exams
The Authors wish to state certain key aspects to assist Students in their preparation
Accounting is an art, and confidence can be gained by ‘practicing’ reasonable number of” Illustrations in every area with full in involvement. Mere reading as to how a question is solved in The Textbook will not be sufficient.
Procedure I Principle for treating specific items, e.g. elimination of unrealised profits in Consolidation process, etc. should be ‘remembered’. In any question, the procedure I principle Remains the same, only numbers differ. Good Memory of Principles is starting point for better Control and grasp over the concepts
In areas like Amalgamation, Consolidation, etc. “adjustments” arc made to two tallied Balance Sheets. If Debit and Credit Principles are taken care of and considered properly, the final I Revised Balance Sheet can be easily drawn. There is no question of Balance Sheet not tallying, etc
Reasonable Assumptions (within the scope of the question) can be made in appropriate situations, And it is not necessary to re-solve the question under the alternative assumption in all cases
Table of Contents:
1 Financial Statements Udner Schedule Iii
2 Ind As – Applicability And Framework
3 Ind As – General / Financial Statement Matters
4 Ind As – Assets/ Liabilities General Items
5 Ind As – Assets / Liabilities Special Items
6 Ind As – Revenue
7 Ind As – Expense Items
8 Ind As – Financial Statements – Others
9 Ind As – For Specific Areas / Items
10 Ind As – Business Combinations
11 Consolidated Financial Statements
12 Ind As – Financial Instruments
13 Ind As 102: Share Based Payments
14 Integrated Reporting
15 Accounting Standards & Guidance Note
About the Author:
G.Sekar is a Chartered Accountant in practice for the last 30 years. Founder and Faculty for Direct Taxation in Shree Guru Kripa’s Institute of Management, an Institution providing education for all level and all subjects of the Chartered Accountancy Course and has trained many finance professionals. Member-Central Council of ICAI-2013-16&2016-19 Chairman – Direct Taxes Committee of ICAI – 2014 Recently nominated as Member of Consultative Advisory Group (CAG) of the prestigious International Accounting Education Standards Board (IAESB) – It is worthy to note that he is the First Indian to be part of the CAG. Great Motivator for Chartered Accountants in Practice and in Employment, and CA Students, through his effective and convincing communication style.
B. Saravana Prasath is a graduate in Commerce and a Fellow Member of the Institute of Chartered Accountants of India. He secured Fourth Rank in the Madras University in his Graduation Examinations. He did his Chartered Accountancy Articleship training under the tutorship of Shri G. Sekar FCA. He secured the First Rank in the Chartered Accountancy Final Examinations, securing 76% in the aggregate. He also secured the Third Rank in the Intermediate Examinations and Tenth Rank in the Foundation Examinations.His academic performance includes 99% in CA Final Accounting Paper and 96% in CA Intermediate Auditing Paper.