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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 7^th Edition for CA-Final | Nov. 2023 exam. This book is authored by CA Parveen Sharma & CA Kapileshwar Bhalla, with the following noteworthy features:

[New Features of the 7^th 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, including the May 2023 exam with suggested answers
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