This book provides a comprehensive commentary on the Indian Accounting Standards (Ind ASs) & comprehensive analysis of amended Schedule III of the Companies Act 2013.

The Present Publication is the 8th Edition & updated till April 2023, incorporating the Companies (Indian Accounting Standards) (Amendment) Rules 2023. This book is authored by B.D. Chatterjee & Jinender Jain, with the following noteworthy features:

• [Process Flow Diagrams of Major Ind AS in Simplified & Lucid Language] to help the reader understand and comprehend the nuances of each Ind AS in its simplest form
• [200+ Process Flow Diagrams, Charts, Illustrations & Case Studies] to deep dive into the Ind ASs & their convergence with IAS/IFRS, updated with the latest notified amendments in each of the Ind ASs, based on practical issues and questions
• [Definitions & Application Guidance] are incorporated in critical chapters
• [Detailed Comparative Analysis] of the Ind ASs with the amending Accounting Standards (AS)
• [Case Studies] on disclosure of accounting policies
• [Global Perspective] Each chapter highlights the convergence of each Ind AS with IFRS
• [References] have been made to the following:
• Notified text on Ind ASs & AS published by Ministry of Corporate Affairs
• The Institute of Chartered Accountants of India Publication on Indian Accounting Standards (Ind AS)
• Adaptations from ACCA UK

The detailed contents of this book are as follows:

• Financial Reporting in India and Conceptual Framework for Financial Reporting
• Indian Accounting Standards (Ind AS) Summary
• Ind AS 1 | Presentation of Financial Statements and Schedule III
• 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 occurring after the Reporting Period
• Ind AS 12 | Income Taxes
• Ind AS 16 | Property, Plant and Equipment
• Ind AS 17 | Leases
• Ind 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 the 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 101 | First-time Adoption of International Financial Reporting Standards
• 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 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
• Case Studies on Disclosure of Accounting Policies
• Multiple Choice Questions on Ind ASs