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Ind AS Simplified A Comprehensive Commentary Explained with Illustrations - Useful for Professionals and Students of CA Final & Certification Courses on Ind AS [Including Ind AS 115 & Ind AS 116]

Ind AS Simplified A Comprehensive Commentary Explained with Illustrations - Useful for Professionals and Students of CA Final & Certification Courses on Ind AS [Including Ind AS 115 & Ind AS 116]

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Description
Indian Accounting Standards (Ind AS) are Indian-Equivalent international Financial Reporting Standards (IFRS), used as the basis for financial reporting in India. These standards, except a few carve-outs, are reproduction of IFRSs. These are quite lengthy and difficult to understand for the first-time readers/students. This Book - Ind AS Simplified - explains the principles of these standards in simplest manner to help understand this complex subject with plenty of practical, real-world examples. This simple-to-read book will help you master Ind AS in no time. This book helps understand: what are Ind AS; how to transition to Ind AS from Indian GAAP; how Ind AS affects the key components of financial statements; how accounting information is to be disclosed in the financial statements and much more. The book presents the fundamental accounting concepts of Ind AS, explains the concepts like Other Comprehensive Income, deferred taxes, financial instruments, business combinations, etc. in lucid language, and also presents the latest Ind AS, e.g. Ind AS 115 Revenue from contracts with customers, Ind AS 116 Leases and others. The book also contains more than 500 MCQs for the students of Chartered Accountancy course and Professionals appearing for certification courses on Ind AS
Key Features   
»    Multiple Choice Questions (MCQs) for the (CA Final and Certification courses on Ind AS)
»    Lucid commentary with Conceptual Explanations & Examples
»    Included Commentary on Ind AS 115 and Ind AS 116
»    Standard-wise carve-outs between IFRS and Ind AS
»    FAQs on MCA Notifications for Roadmap/Applicability of Ind AS
»    Practical issues on Ind AS including analysis of ITFG Bulletins and Educational Material
»    Impact of Ind AS on different sectors
»    Minimum Alternate Tax impact on Ind AS adjustments
»    Including Illustrative Financial Statements based on Ind AS
»    Including latest updates on Schedule III of the Companies Act, 2013
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Contents
Division I: Quick Referencer
Referencer I    Comparative List of AS, Ind AS and IFRS
Referencer II    Ind AS Listing- Financial Statements Utility
Referencer III    Standard wise list of Exemptions and Exceptions.
Division II: Roadmap and Impact
Roadmap to Ind AS
Ind AS Impact - Industry Wise
Division III: Ind AS - Analysed
Ind AS 1    Presentation of Financial Statements
Ind AS 2    Inventories
Ind AS 7    Statement of Cash Flows
Ind AS 8    Accounting Policies, Changes in Accounting Estimates and Errors
Ind AS 10    Events after the Reporting Period
Ind AS 12    Income Taxes
Ind AS 16    Property, Plant and Equipment
Ind AS 17    Leases
IInd AS 19   Employee Benefits
Ind AS 20    Accounting for Government Grants and Disclosure of Government Assistance
Ind AS 21     The Effects of Changes in Foreign Exchange Rates
Ind AS 23    Borrowing Costs
Ind AS 24    Related Party Disclosures
Ind AS 27    Separate Financial Statements
Ind AS 28    Investments in Associates and Joint Ventures
Ind AS 29    Financial Reporting in Hyperinflationary Economies
Ind AS 32    Financial Instruments: Presentation
Ind AS 33    Earnings per Share
Ind AS 34    Interim Financial Reporting
Ind AS 36    Impairment of Assets
Ind AS 37    Provisions, Contingent Liabilities and Contingent Assets
Ind AS 38    Intangible Assets
Ind AS 40    Investment Property
Ind AS 41     Agriculture
Ind AS 102    Share-based Payment
Ind AS 103    Business Combinations
Ind AS 104    Insurance Contracts
Ind AS 105    Non-current Assets Held for Sale and Discontinued Operations.
Ind AS 106    Exploration for and Evaluation of Mineral Resources
Ind AS 107    Financial Instruments: Disclosures
Ind AS 108    Operating Segments
Ind AS 109    Financial Instruments
Ind AS 110    Consolidated Financial Statements
Ind AS 111     Joint Arrangements
Ind AS 112    Disclosure of Interests in Other Entities
Ind AS 113    Fair Value Measurement
Ind AS 114    Regulatory Deferral Accounts
Ind AS 115    Revenue from Contracts with Customers
Ind AS 116    Leases
Division IV: Other Relevant Topics
Ind AS and MAT
Analysis - Guidance Note on Division II - Ind AS Schedule III to the Companies Act
Schedule III of Companies Act, 2013: Division III Applicable to Ind AS compliant
NBFCs
Division V: Illustrative Financial Statements
ABC Limited - Balance Sheet
Division VI : Multiple Choice Questions

Part I     MCQs Questions
               MCQ Answer
Part II    Fill in the Blanks-Questions
               MCQ Answers
Part III   True or False - Questions
               MCQ - Answers
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Author Details
CA Anand Banka
, a Fellow Member of ICAI, holds a Diploma in IFRS from ACCA (UK) and in Information Systems Audit (DISA). He is a Partner with Talati & Talati, Chartered Accountants, heading its Mumbai office. Anand has over 9 years of experience of accounting and audit, especially in International Financial Reporting Standards (IFRS) domain. His experience includes implementing IFRS/Ind AS in Companies across sectors in various countries including India, UAE and USA. He has been involved in the accounting standard setting process, both Ind AS and AS, with ICAI. He is also a prolific speaker with more than 250 seminars across various countries on IFRS,Indian  Accounting Standards, Companies Act, etc.
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