At the outset, place on record my sincere thanks to readers of the earlier editions of the book First Lessons Accounting Standards”, The response by way of constructive suggestions and progressive criticism that I have received has been such that it invigorates me. ‘The supplementary pocket book has received overwhelming response
In this edition the comparative study with lnd AS / IFRS / lAS has been strengthened and dealt with in greater detail considering our road map to convergence with IFRS It gives me immense pleasure in presenting this edition as an exclusive book for students, To cater to the requirements of Accounting Professionals and practicing C Ats a separate book has been released, christened Application Guidance M Accounting Standards in India” which comprises of two editions has been jointly authored by :Mr, S,D, Bala and me, the content of the book has been drafted in such a way that it adheres to the needs of all the students and provides in-depth knowledge and adequate analysis which goes beyond the scope of the syllabus and theteby assisting the students in the practical work environment.
Since the time of release of the last edition several changes have taken place in the Accounting Standards in India, I have tried my utmost to incorporate these changes in this edition and ensure that the book depicts a comprehensive picture of the Accounting Standards as on the date of issue
The book comprises a storehouse of questions with probable answers (400 Cases & Short Questions and about 90 Past Examination Questions till May 2018 exams of CA Final) increasing the depth of understanding and touching upon the nuances of the Standards. The cases cover many of the Expert Advisory Committee Opinions and FAQs addressed by the ICAI.