Taxmann CA Final Financial Reporting Study Material By CA Parveen Sharma,CA Kapileshwar Bhalla App. for May/Nov 2023 Exam

This book is prepared exclusively for the Final Level of Chartered Accountancy Examination requirement. It covers the entire revised syllabus as per ICAI. This book serves as a guide for students & professionals, and the objectives of this book are as follows:

• It helps the reader acquire the ability to integrate & solve problems in practical scenarios on Indian Accounting Standards (Ind AS). It also assists the reader in deciding the appropriate accounting treatment and formulation of suitable accounting policies
• While preparing and presenting the financial statements, this book helps in the ability to recognize and apply disclosure requirements specified in Ind AS
• Acquiring/developing the skill to prepare financial statements of group entities based on Ind AS
• Develop an understanding of the various forms of reporting (other than financial statements) and accounting for special transactions, and apply such knowledge in problem-solving

The Present Publication is the 6th Edition for CA-Final | New Syllabus | May/Nov. 2023 exams. This book is authored by CA Parveen Sharma & CA Kapileshwar Bhalla, with the following noteworthy features:

[New Features of the 6th Edition] are as follows:

• Incorporates ‘notes’, which acts as a mind map for last-minute revision for the exams
• Incorporates the teaching style as used in a live class
• Incorporates a ‘step-by-step approach’/’3-step model’ for almost all Ind ASs, which will help students to crack the complexities of the subject with ease
• Covers both the concepts and questions in one place, which is the key to scoring well in FR

[Difficulties Encountered by Students in Exams] have been presented and discussed in this book

[Special emphasis on Ind AS strictly from an examination point of view] including the following:

• Difference between AS & Ind AS
• Carve-ins and Carve-outs w.r.t. IFRS

[Clarifications & Examples] have been given at various places to make the reader quickly understand the complexities involved in Ind AS

[Pointers for Important Issues] have been highlighted at various places

[1,000+ Examples, Diagrams, Charts, Clarifications & Explanations] are given to address the complicated standards

[Arrangement of Questions] has been done to suit beginners as well as experts by covering the following:

• Objective Questions
• Descriptive Questions
• Practical Questions
• Advanced Questions

Coverage of this book includes:

• Past Examination Papers
• Mock Test Papers (MTPs) of ICAI
• Revisionary Test Papers (RTPs) of ICAI
• Selected questions from Educational Materials of ICAI
• Selected Ind AS Bulletins

[Student-Oriented Book] The authors have developed this book keeping in mind the following factors:

• Interaction of the authors with their students, with specific emphasis on difficulties faced by students in the examinations
• Shaped by the author’s experience of teaching the subject matter at different levels
• Reactions and responses of students have also been incorporated at different places in the book

Detailed contents of this book are as follows:

Introductory Standards

• Ind AS 10 – Events after Reporting Period
• Ind AS 37 – Provision, Contingent Liability and Contingent Assets

Asset Related Standards

• Ind AS 2 – Inventories
• Ind AS 16 – Property, Plant and Equipment
• Ind AS 38 – Intangible Assets
• Ind AS 40 – Investment Property
• Ind AS 41 – Agriculture
• Ind AS 105 – Non-Current Assets (NCA) held for Sale & Discontinued Operations (DO)
• Ind AS 23 – Borrowing Costs
• Ind AS 36 – Impairment of Assets

Slightly Complicated Standards

• Ind AS 12 – Income Taxes
• Ind AS 21 – The Effects of Changes in Foreign Exchange Rates
• Ind AS 19 – Employee Benefits
• Ind AS 20 – Accounting for Government Grants and Disclosure of Government Assistance
• Ind AS 8 – Accounting Policies, Changes in Accounting Estimates and Errors
• Ind AS 102 – Share-Based Payments

Complex Standards

• Ind AS 103 – Business Combination
• Group Accounts
• Financial Instruments (FI)
• Ind AS 113 – Fair Value Measurements
• Ind AS 115 – Revenue from Contracts with Customers
• Ind AS 116 – Leases

Disclosure Related Standards

• Ind AS 108 – Operating Segments
• Ind AS 24 – Related Party Disclosures
• Ind AS 33 – Earnings Per Share

Basic Standards

• Ind AS 7 – Cash Flow Statement
• Ind AS 34 – Interim Financial Reporting
• Ind AS 1 – Presentation of Financial Statements

First Time Adoption

• Ind AS 101 – First-Time Adoption of Ind AS

Non-Ind AS

• Corporate Social Responsibility
• Integrated Reporting
• Framework for Financial Reporting under Ind AS
• Roadmap to Ind AS
• Formats of Financial Statements