Ind AS Simplified

By Anand J. Banka

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This book is an attempt to make the understanding of the Ind AS simple through lucid explanations and illustrations for each concept. The book contains industry wise impact study, easy and quick referencer of standards, standard-wise list of exemptions and exceptions, comparison with Accounting Standards (AS) and Income Computation and Disclosure Standards (ICDS), and many more. This book also contains a significant number of practical issues. The views of Ind AS Transition Facilitation Group (ITFG) of ICAI and Educational Materials issued by ICAI have also been duly considered while analyzing the concepts and are accordingly presented in the book. I believe this book will simplify the standards for the readers and also help them in implementing Ind AS. For students and professionals appearing for certificate course, the book contains multiple-choice questions and practice questions for preparing them for their exams.

I GAAP (Indian Accounting Standards) A Practical Approach

By Anand J. Banka

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History of Accounting in India has been an interesting one. Formulation of Accounting Standards in India started with the constitution of the Accounting Standards Board (ASB) by the Institute of Chartered Accountants of India (ICAI) in April 1977. It issued the first Accounting Standard (AS) i.e. AS 1 Disclosure of Accounting Policies in 1979. Thereafter, over the years, the ICAI issued / revised various other accounting standards – today there being 28 effective standards. However, most of these standards were issued/ revised in last 2 decades. Issuance/ Revision of Accounting Standards in large numbers in recent times, both in India and globally, display how the accounting world is adapting to the changing needs of the business world. Changes to the accounting standards also bring with it, issues in itsinterpretations. To assist in implementation of these Standards, the ICAI issues Guidance Notes and Technical guides that provide guidance to its members on accounting issues not specifically covered by the existing accounting standards. A large number of these publications have been issued in last decade.