Taxsutra Anniversary Special - 1 year subscription to Dolphy D'Souza's iconic Commentary Ind AS – Interpretation, Issues & Practical Application (2024 Edition).

Ind AS standards like IFRS are principle-based standards. However, they are quite complex, even for a seasoned practitioner. The landscape is constantly changing, new discussions, new questions, new business models, new standards/amendments, EAC opinions, IFRIC decisions, regulatory expectations, would require the book to be significantly updated and enhanced on a regular basis. Consequently, there is a need for a book such as this, which plays an important role in promoting consistent, comparable and high-quality financial reporting.

Ind AS – Interpretation, Issues & Practical Application is written in simple language, mainly in a question and answer format, suitable for quick comprehension. But it does not stop there. It goes much beyond explanation. It provides insights, solutions and alternative approaches on complex practical issues that accountant’s face on a daily basis in the real world of global financial reporting. This practical approach is unavailable in any other work, in India. It is the most authoritative material on Ind AS, and will immensely benefit the preparers of financial statements, users, auditors, regulators, standard-setters, directors, audit committee members, students and academicians.

Written by an accounting authority, the book carefully avoids jargons. Complex technical accounting issues have been explained clearly with numerous worked examples, case studies and illustrations. This is the sixth edition of Ind AS – Interpretation, Issues & Practical Application. The highlights of this book are given below.

• Complex Ind ASs explained in a simple language
• All chapters completely re-written/revised
• Includes references to EAC opinions and ITFG/IFRIC interpretations, where necessary
• Exhaustive Interpretation and Practical Illustrations on all Ind AS standards
• Guidance on New Topics such as production linked incentives, crypto currency, related party transactions, gross vs net revenue recognition for new age companies, IPO expenses, etc.
• More than 300 Practical Illustrations and Examples each on Ind AS 115 & Ind AS 116
• More than 300 Solved Q&A’s and examples on financial instrument and foreign exchange
• Detailed comparison of Ind AS with IFRS and Income Computation and Disclosure Standards (ICDS)
• Illustrative financial statements under Ind AS and Schedule III
• Guidance and FAQs on Schedule III
• Detailed index facilitating easy reference
• Tax implications arising from Ind AS accounting
• Complicated topics explained in a lucid manner
• Common control Mergers and Amalgamations
• Financial instruments and derivatives
• Debt vs Equity
• Business combination
• Consolidation and joint arrangements
• Foreign exchange
• Income-taxes
• Revenue recognition
• Leases
• Grants

Apart from above, 2024 edition of the book contains a few additional points as follow:

• Ind AS Illustrative Financial Statements for the Year Ended 31 March 2024
• Guidance on Ind AS 2023 Amendments
• MCA Notification on Ind AS 2023 Amendments