Ind AS: Theory and Practice

Ind AS: Theory and Practice For CA Final, By Prof. Israr Sheikh

Ind AS Theory and Practice For CA Final By Professor Israr Sheikh

Overview

“Ind AS: Theory & Practice” for CA Final- Group I students (New Syllabus), CA Final - Group II students (New Syllabus) – Elective Paper, CA's in practice or engaged with firms, students giving ACCA exams and CA's engaged in seminars. In the year 2017 ICAI has introduced New Syllabus in which “Financial Reporting” now comprises of 70-80% on Ind AS. The need to introduce Ind AS (which is akin to International Standards – IFRS) is to cope up with the on going and updated accounting practices followed worldwide. I had made a serious and rigorous attempt to bring this updated version on Ind AS which will be substantially useful to everyone connected with this subject. This is a comprehensive book explaining concepts, problems of Ind AS and updated with provisions of New Schedule III in a lucid and informative manner.

 This book will also be useful for the practitioners, professionals and industry people.

Features

• IFRS, IAS and IND AS blended for better understanding
• 400+ Exercises, problem and solutions
• Detail standard on Financial Instruments
• Revised Schedule III
• Distinction between AS and IND AS
• Includes CMA, ACCA and CIMA papers
• Solved RTP, Mock test, May 2018 paper
• Simple and lucid skilfully drafted standards

Ind AS Practices Demystified - 2nd Edition

Ind AS Practices Demystified - 2nd Edition

Ind AS Practices Demystified - 2nd Edition By CA Santosh Maller

Need for the book
With effect from 1 April 2016, Indian Accounting Standards (Ind AS), is new accounting norm for listed and unlisted companies with net worth in excess of Rs 500 crore (phase I). As per some estimates, approximately 370 companies/groups, covered in phase I of Ind AS roadmap, have applied Ind AS in financial year 2016-17. With effect from financial years beginning from 1 April 2017, remaining listed companies and those with net worth in excess of Rs. 250 crores (phase I) would be applying Ind AS.

Further, on 28 March, 2018, the Ministry of Corporate Affairs (MCA) issued Companies (Indian Accounting Standards) Amendment Rules, 2018 which amended the Ind AS standards and issued new Ind AS standards. These amendments and new standards are effective from financial year beginning from 1 April, 2018. The new/ revised Ind AS standards/ appendices include: Ind AS 115 Revenue from Contracts with Customers including consequential amendments to other Ind AS standards; Appendix B, Foreign Currency Transactions and Advance Consideration to Ind AS 21 The Effects of Changes in Foreign Exchange Rates; and amendments to a few other standards.

Ind AS transition had significant impact on, not only, the financial results of many of these companies, but has also caused far reaching consequential business impact. Many companies reported a change in their key financial ratios, such as earnings per share, price-earnings ratio, return on capital employed and gross margin ratio. The new requirements under Ind AS with regards to classification of debt and equity caused changes, such as net worth, debt–equity ratio and interest coverage ratios. Companies were initially spooked by the uncertainties around tax consequences of the Ind AS, which have been largely put to rest by the Financial Act, 2017. In many cases, there have been significant regulatory issues, such as control assessment under Ind AS being different from that under regulations such as the Companies Act, IRDA, SEBI takeover code, etc.

Illustrated Guide to Indian Accounting Standards (Ind AS) 2018

Illustrated Guide to Indian Accounting Standards (Ind AS) 2018

As Amended by Companies (Indian Accounting Standards) (Amendment) Rules 2018


Covering

• A Comprehensive commentary on Ind AS with more than 200 illustrations,charts and case studies
• Detailed comparative analysis of Ind AS and AS
• Comparison of Ind AS and AS with IFRS and US GAAP
• Detailed Comparative analysis of Ind AS, AS and ICDS
• Analysis of impact of Ind AS in various industry sectors
• Convergence of Ind AS with IFRS

Also Incorporating:
NEW IND AS 115 - REVENUE FROM CONTRACTS WITH CUSTOMERS WITH ILLUSTRATION

Guide To Indian Accounting Standards - (Ind AS) (Set of Two Volumes)

Guide To Indian Accounting Standards (Ind AS) (Set of Two Volumes)

Guide To Indian Accounting Standards (Ind AS) (Set of Two Volumes)

With
Implementation Guidance
Illustrative Examples
Basis for Conclusions
Also Incorporating:

New Ind AS 115 - Revenue from Contracts with Customers

Indian Accounting Standards (IND-AS) Ready Reckoner 2018

Indian Accounting Standards (IND-AS) Ready Reckoner 2018

Indian Accounting Standards (IND-AS) Ready Reckoner - 6th Edition May 2018

• Updated as per Companies (Indian Accounting Standards) Amendment Rules, 2018, Issued on 28-03-2018
• Contains Ind AS 115 (applicable from FY 2018-19), explained with various examples
• Analyzed impacts of Ind AS  115 on various Industries with few examples
• Guidance on Ind AS and Minimum Alternate Tax Under Section 115 JB of the Income Tax Act, 1961 
• Tips - How to prepare Opening (Ind AS) Balance Sheet

Financial Instruments as per Ind AS (Accounting, Reporting, Presentation & Disclosures)

Financial Instruments as per Ind AS
(Accounting, Reporting, Presentation & Disclosures) 2nd Edition

Financial Instruments as per Ind AS (Accounting, Reporting, Presentation & Disclosures) 2nd Edition By R Venkata Subramani

About the Book
• Financial instrument is probably the most complex topic in the entire literature of accounting standards. This book covers all the relevant standards that deal with financial instruments viz., Ind AS 32, 109, 107, 113 and 21

• India never had any formal accounting standards on financial instruments till the introduction of Ind AS. Since India is first amongst the several geographical locations implementing the accounting standard covering financial instruments, we don’t have any precedence for guidance on several of the new concepts that are introduced by IFRS 9 which are imported verbatim into Ind AS 109.

• The key concepts of the accounting standard are discussed along with several illustrations to elucidate and amplify the topic for better understanding.

• The book gives a complete set of journal entries along with the ledger accounts, trial balance, profit & loss account and balance sheet so as to provide a good understanding of the topic covered.

• Financial instruments from the perspective of investor as well as the issuer is covered in this book.

• Financial instruments recognition, classification, measurement, de-recognition is covered. The new impairment requirements based on the expected credit model is given with a number of examples.

• Hedge accounting as per Ind AS 109 is covered in great detail. The second edition also covers the accounting treatment of cost of hedging as this is a new concept that helps investor to minimize the fluctuations in profit and loss account due to the cost of hedging.

• Hedging instruments covered include interest rate derivatives and FX derivatives.

Tax Audit and e-Filing 6th Edition

Tax Audit and e-Filing
As Amended by Finance Act 2018 6th Edition

Tax Audit and E-Filing As Amended by Finance Act 2018 6th Edition by CA. Kamal Garg


Chapter 1        Tax Audit under section 44AB of the Income Tax Act, 1961
Chapter 2        Clauses 1 to 8
Chapter 3        Clause 9: Details of Firms, LLPs, AOPs
Chapter 4        Clause 10: Nature of business or profession
Chapter 5        Clause 11: Books of Account
Chapter 6        Clause 12: Presumptive Income
Chapter 7        Clause 13: Method of Accounting
Chapter 8        Clause 14: Method of Stock Valuation
Chapter 9        Clause 15: Capital Asset converted into Stock-in-Trade
Chapter 10      Clause 16: Amounts not credited to Profit and Loss Account
Chapter 11      Clause 17: Transfer of Land and/or Building vis-à-vis Section 43CA/50C
Chapter 12      Clause 18: Depreciation
Chapter 13      Clause 19: Amounts admissible under sections 32AC, 33AB, 33ABA, 35, etc.
Chapter 14      Clause 20: Bonus/Employees Contribution to PF
Chapter 15      Clause 21: Certain Amounts debited to Profit and Loss Account
Chapter 16      Clause 22: Amount of interest inadmissible under section 23 of the MSMED Act, 2006
Chapter 17      Clause 23: Payments to Specified Persons
Chapter 18      Clause 24: Amounts deemed to be profits and gains under section 32AC, 33AB or 33ABA or 33AC
Chapter 19      Clause 25: Any amount of profit chargeable to tax under section 41 and computation thereof
Chapter 20      Clause 26: Sums covered by section 43B
Chapter 21      Clause 27: CENVAT Credit/Prior Period Items
Chapter 22      Clause 28 & 29: Implications of Transfers without Consideration
Chapter 23      Clause 30: Amount borrowed or repaid on Hundi, etc.
Chapter 24      Clause 31: Acceptance or Repayment of Certain Loans and Deposits
Chapter 25      Clause 32: Unabsorbed Loss/Depreciation
Chapter 26      Clause 33: Sectionwise details of deductions, if any, admissible under Chapter VIA or Chapter III
Chapter 27      Clause 34: Audit of Compliance with TDS Provisions
Chapter 28      Clause 35: Quantitative Details
Chapter 29      Clause 36: Corporate Dividend Tax
Chapter 30      Clause 37: Cost Audit Report
Chapter 31      Clause 38 and Clause 39: Central Excise and Service Tax Audit Report
Chapter 32      Clause 40: Accounting Ratios, etc.
Chapter 33      Clause 41: Details of Demand Raised or Refund Issued During the Previous Year under any other Tax Laws
Chapter 34      Code of Ethics

Appendix 1     e-Filing Registration and Services

Bank Audit A Practical Guide For Bank Auditors

Bank Audit A Practical Guide For Bank Auditors

Bank Audit A Practical Guide For Bank Auditors

Incorporating:

• Practical Guidance on LOUs and Swift
• Relaxed NPA norms for MSME GST registered units (Cir. 07-02-2018)
• Audit Checklists for SDR,S4A and Revised Resolution Framework (Cir. 12-02-2018)
• Practical guidance on NPA identification and provisioning including Agricultural loans
• Comprehensive Branch Audit Programme FY 2017-18
• Guidance in Planning and Documentation with templates
• Detailed guidance on finacle and BaNCS
• Guidance on Stock Audit

Accounting & Auditing Books