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Preparing Financial Statements under Schedule III (Ind AS and Indian GAAP)

Preparing Financial Statements under Schedule III (Ind AS and Indian GAAP)

  • ₹1,195.00

In Stock
  • Author(s): CA Ambalika Singh
  • Brand: Bloomsbury
  • Edition: 1 Ed 2017
  • ISBN 13 9789386606952
  • Approx. Pages 659 + Contents
  • Format Paperback
  • Delivery Time Normally 7-9 working days

•    Develop insight into the interplay between the Conceptual Framework,
      Schedule III and the Accounting Standards.
•    Learn the foundations of Ind AS and Indian GAAP compliant financial statements.
•    Illustrative disclosure of Fortune 500 companies included.
•    All relevant Exposure Drafts on Ind ASs included till date.
•    Incorporates relevant Ind AS Transition Group bulletins

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Description
Preparing Financial Statements under Schedule III: Ind AS and Indian GAAP is a book that is useful to all kinds of readers, ranging from auditors, managements, accountants, students to accountancy academia. The book expects the readers to have basic practical experience in accounting and preparation of financial statements. It would strengthen their knowledge about the key concepts under Indian GAAP and Ind AS relating to recognition, measurement and disclosure of the elements of the financial statements. The book brings to light the changes in the Indian accounting landscape and also includes exposure drafts which show the way forward. It also includes illustrative disclosures of Fortune 500 companies which will help the readers appreciate good financial reporting. In a nutshell, this book is an enabler for someone who wants to practically apply Indian GAAP or Ind AS and produce high quality financial statements.
KEY FEATURES
•    Understand ASB's Framework of Preparation and Presentation of Financial Statements.
•    Develop insight into the interplay between the Conceptual Framework, Schedule III
      and the Accounting Standards.
•    Learn the foundations of Ind AS and Indian GAAP compliant financial statements.
•    Preparation and presentation of financial statements under Indian GAAP and Ind AS.
•    Illustrative disclosures of Fortune 500 companies included.
•    Exposure Draft on Guidance note on Division II of Schedule III included.
•    Exposure Draft on Schedule III for NBFCs included alongwith highlights of differences.
•    All relevant Exposure Drafts on Ind ASs included till date.
•    Incorporates relevant Ind AS Transition Facilitation Group bulletins.
•    Includes FAQs issued by Accounting Standards Board.
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Contents
Chapter 1        Framework for Preparation and Presentation of Financial Statements
Chapter 2        Accounting Frameworks and Consolidation
Chapter 3        Accounting policies and Profit or Loss under Companies (Accounting   
                            Standards) Rules, 2006
Chapter 4        Financial statements under Companies (Accounting Standards) Rules, 2006.
Chapter 5        Accounting policies, accounting estimates and errors under Ind AS .......
Chapter 6        Financial statements under Companies (Indian Accounting Standards)
                           Rules, 2015
Chapter 7        Exposure Draft of Schedule III for NBFCs
Annexure 1    Ind AS Rules Notification.
Annexure 2    Press Release NBFCs, Scheduled Commercial Banks (excluding RRBs) and
                          Insurers/Insurance Companies
Annexure 3    Notification for NBFCs
Annexure 4    Framework for the Preparation and Presentation of Financial Statements in
                          accordance with Indian Accounting Standards
Annexure 5    Schedule III
Annexure 6    Form AOC-I
Annexure 7    Exposure Draft of Ind AS compliant Schedule HI to Companies Act, 2013,   
                          for Non-Banking Financial Companies (NBFCs)
Annexure 8    Exposure Draft of Amendments to Ind AS 101, First-time Adoption of Indian
                           Accounting Standards.
Annexure 9    Exposure Draft of Guidance Note on Division II - Ind AS Schedule III to the   
                           Companies Act, 2013
Annexure 10  Exposure Draft Transfers of Investment Property Amendments to Ind
                           AS 40, Investment Property
Annexure 11  Exposure Draft Recognition of Deferred Tax Assets for Unrealised Losses
                           Amendments to Ind AS 12, Income Taxes
Annexure 12  Exposure Draft Appendix B of Ind AS 21, Foreign Currency Transactions
                           and Advance Consideration
Annexure 13  Exposure Draft Annual Improvements to Ind AS - Amendments in Ind
                           AS 112 and 28
Annexure 14  Exposure Draft Clarifications to Ind AS 115, Revenue from Contracts
                           with Customers
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Author Details
The author Ambalika Singh
is a member of the Institute of Chartered Accountants of India. She has worked with Indian member firms of KPMG and EY and has over 7 years of post-qualification experience with the Big Fours. During the first half of her career she was part of Assurance and has been an audit team member of audits of three Global Fortune 100 companies, namely GE, Pepsi and Siemens. During the second half of her career she moved to the other side of the table to the newly minted Financial Accounting Advisory Services practice of EY, She helped companies' managements sail the winds of the proposed Ind AS conversion exercise in 2010-11. Her credentials in the space include companies like Mahanagar Telephone Nigam Limited (MTNL), Bennett Coleman & Company Limited (BCCL), Anchor Electricals Private Limited, Hind Terminals Private limited and Phoenix Mills Limited. She had major client expo¬sure in the markets of NCR and Mumbai. More recently she has also developed practical insights into US GAAP and has worked on the impact assessment of the new Revenue recognition standard and the new Leases Standard. She has also worked on international GAAP conversion assignments.
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