Description
Bloomsbury India Treatise On Leases (Covering Ind As, Igaap, Ifrs And Us Gaap) by CA Alok K Garg and CA Chandni Gupta
About the Book
The book “Treatise on Leases” has been written very scrupulously to serve as one stop shop for accounting guidance on leases across the globe. The standard on leases has been revamped and brought tremendous changes in the accounting for lessees, while the accounting for lessors remain largely unchanged. With the alignment of IFRS and US GAAP on this standard and consequential introduction of Ind AS, users could feel an emergent need for a comprehensive guide to refer for lease transactions. This book is an endeavor to cater to that need of the users across the globe.
The book comprises of accounting guidance on leases in accordance with IGAAP and Ind AS. The text of Ind AS is meant to be referred in context of IFRS as well, as there is no major difference between these two standards. To give a holistic and comprehensive view of local and global standard, a detailed comparison of Ind AS, IGAAP, IFRS and US GAAP has been given. For easy understanding various case studies and practical examples have been used, a detailed analysis of a sample lease agreement has been given in the book. In order to allow readers, test their knowledge multiple-choice questions have been incorporated and to make this book a comprehensive solution, authors have given disclosure checklists based on AS, Ind AS and IFRS. Further, for a more practical and realistic outlook, the book comprises of disclosures from published financial statements of Indian and global listed companies. The book is updated as of December 2020 and serves a wide audience ranging from CA final students to qualified CA, CS, ICWA, CFOs, finance professionals, accountants and corporates.
It’s a treatise that inscribes the transfiguration of financial reporting of lease transactions in the history of accounting, giving its readers an in-depth insight on its each and every detail.
Highlights
● Comprehensive commentary on Ind AS 116/IFRS 16 and AS 19 explained with practical examples and case studies.
● In depth analysis of a sample lease agreement on the basis of Ind AS 116/IFRS 16.
● Multiple Choice Questions on Ind AS/IFRS and IGAAP.
● Detailed comparison of various GAAPs: Ind AS, IGAAP, IFRS, US GAAP and ICDS.
● Disclosure checklist for Ind AS, IFRS and IGAAP.
● Detailed leases disclosures extracted from financials of Indian and global listed companies w.r.t various GAAPs.
● Exposure Draft on Sale and Leaseback Transactions issued by IASB which is open for public comments by 29th March 2021.
● Bare standards on Ind AS 116 and AS 19.
● Published Annual Reports of various Indian and global companies complying with Ind AS, IGAAP, IFRS or US GAAP.
About the author
CA Alok K. Garg
Mr. Garg, a seasoned professional, is an Associate Member of Institute of Chartered Accountants of India (ICAI) for more than a decade. He is currently working as a General Manager and heading Financial Reporting, Consolidation and IFC function of a large listed company. Having completed his graduation in B.Com (Hons.) from University of Delhi in 2004, he also qualified the Company Secretary from Institute of Company Secretaries of India (ICSI) in the year 2008. He is a Diploma holder in IFRS from ACCA, United Kingdom and also Certified Ind AS from Institute of Chartered Accountants of India (ICAI).
He is having a thorough experience in the field of Financial reporting, Consolidation, Internal Controls and Auditing for more than 13 years and associated with Bharti Infratel, HSBC, IL&FS and consulting firms during his career cycle. He has been awarded as Subject Matter Expert for IFRS and Ind AS Implementation during his career.
Mr. Garg is a prolific speaker, has delivered more than 450 plus lectures on IFRS, Ind AS and Accounting Standards across the country and outside at diverse platforms organized by various professional Institutes, Universities, and various committees, branches and study circles of ICAI.
● He has Authored a comprehensive book on Ind AS “Treatise on Ind AS (Explained with Practical Examples and MCQs)” published by Bloomsbury India.
● He has Co-Authored a comprehensive book on Ind AS “An Insights in to Indian Accounting Standards” with CA Amarjit Chopra and CA (Dr.) Sanjeev Singhal.
● He is a special invitee to Accounting Standard Board (ASB) of ICAI for FY 2019-20 and 2020-21.
● He has also delivered various seminars/ workshops organized by NIFM, Ministry of Finance and Department of Public Enterprises, Ministry of Heavy Industries and iCISA, CAG of India.
CA Alok Garg is actively involved in professional contribution to the society in terms of imparting knowledge to fellow members and students at ICAI and outside through his knowledge series & various articles published at various channels of print as well as social media. Few of his notable achievements, associations and deliberations are as follows:
● One of the best rated faculty for the Certificate course on Ind AS organized by ICAI.
● Best rated faculty for Diploma in Ind AS organized by Ramanujan College, University of Delhi.
● Contributed as a core member of study group in finalization of Educational Material of ICAI on Ind AS 20.
● Special Invitee for Board of Studies (BoS) of ICAI for various initiatives
- Contributed extensively for development of study material on Financial reporting for new course of CA Final.
- Review of material on Accounting Standards for Bhutan.
- Delivered Video Lectures on Financial Reporting for CA Final and Accounting Standards for CA Inter.
● Delivered video lectures/webinars on Ind AS organized by CPE Committee of ICAI and Ind AS Implementation Group of ICAI for the benefit of members.
● Penned number of articles on IFRS, Ind AS and Accounting Standards published in the various publications of ICAI.
Mr. Garg always believes in promoting students and is actively involved in mentorship for Fresher Chartered Accountants and CA students.
He has a keen interest in travelling and listening music and he is passionate for taking lectures.
CA Chandni Gupta
She is an Associate Member of Institute of Chartered Accountants of India (ICAI), having completed her graduation in B.Com (Hons.) from University of Delhi, she is currently working as an Assistant Manager-Finance of a multi-national FMCG company.
Ms. Gupta has always been a top ranker in academia right from high school to CA examinations. She had secured all India ranks in CA Final and CA IPCC.
She is having experience in Statutory Audit, IFCoFR, Tax audit of various listed and unlisted entities, Ind AS implementation on listed companies and preparation of financial statements in compliance with Ind AS, IFRS and IGAAP of various entities. She is also having vast experience of business finance and financial planning and analysis.
She has a passion towards disseminating knowledge on her core subject “Financial Reporting” in the form of lecture delivery, writing books, posting articles or making videos. Few of her initiatives and contributions are:
● Founded “IFRSworld”, A domain to share knowledge on IFRS and Ind AS through YouTube channel and Blog. The videos on YouTube are created in an innovative way to make most complicated standards easier for users to understand.
● Contributed in the literature of “Treatise on Ind AS (Explained with practical examples and MCQs)” authored by CA Alok K. Garg and published by Bloomsbury India.
● Delivered more than 50 lectures on IFRS, Ind AS and IGAAP on diverse platforms organized by various universities, branches and study circles of ICAI.
Apart from this, she enjoys gardening and cooking.