By DALAL / GAGGAR / KSHIRSAGAR

Publications on the subject of accounting and auditing are available in plenty, but there is hardly any book that deals with the practical aspects of finalisation of accounts and reporting thereon by Auditors based on the Accounting Standards (Indian & International). The basic requirement under the Companies Act, 1956 is that the published accounts must present a \\\"true and fair\\\" view of the state of affairs of the company concerned and must contain the \\\"information\\\" required to be disclosed by the relevant provisions of the Act. \\\'The Institute of Chartered Accountants of India\\\' has since made it obligatory requirement on various aspects on the part of its members to bring out clearly in their audit reports every qualificatory note or atleast the vital part thereof, especially its impact on profits to enable the shareholders and other readers of the accounts to have a through picture of the relevant issue and its implications. The Institute has, from time to time, recommended disclosure of some additional information in order to make the accounts more intelligible and meaningful. the Accountant in practice and industry has to use his skill and knowledge in drafting the notes on accounts in order to ensure that the explanation or qualification is adequately conveyed to the lay reader of published accounts. The notes on accounts should be simple and must be so drafted that they convey adequate information and do not merely become the means of information. In the new edition of the book \\\"Accounting Standards & Corporate Accounting Practices (With reference to Indian, UK and International GAAP(US))\\\" more than 500 published accounts of Private/Public Sector Companies have been analysed and compiled over 3000 \\\'Notes based on Accounting Standards (Indian & International)\\\'. These \\\'Notes\\\' have been presented under convenient heads to enable busy accountants to select the most appropriate note while preparing and presenting the accounts of any enterprise. The efforts made are most commendable in as much as the Editors have visualised new areas of reporting like \\\'Accounting Policies\\\', ‘Disclosure Requirements’, ‘Inflation Accounting’ etc. and brought to the readers the latest trend in reporting in some developed countries. 89 Appendices appended to the book contains text of various Guidance Notes issued by ICAI and text of Accounting Standards issued as on date. The Accountants, whether engaged in Industry or in Public practice, have, over a period of years, tried to improve the technique of presentation of financial and other information in the published accounts. This book will be of great assistance to Company Management, Company Secretary, Chartered Accountant, Cost Accountants, Professionals in Accounting Practices, Auditors, Government Department in Company Affairs, Members of the various Institutes such as ICAI, ICWAI, ICSI, IIMI, CFAI, etc., students at large and new entrants to the accounting profession as it will provide them guidance in selecting the best terminology while drafting notes on accounts. This New Edition of the Book is extensively revised, rewritten, regrouped with new scheme of arrangements fulfilling contemporary requirements on the subject matters of the book and Contains in details to the possible required extent as to \\\'Introduction\\\' and \\\'Background\\\' alongwith \\\'Draft Specimen Notes\\\' based on Accounting Standards (Indian & International) wherever found necessary on Company Accounts and Directors\\\' Report. SCHEME OF PUBLICATION/CHAPTERS PART 1—GENERAL • Chap. 1 Significant Accounting Policies • Chap. 2 SEBI on Accounting Policies • Chap. 3 Comparative Analysis between Indian GAAP, US GAAP and IAS PART 2—INDIAN ACCOUNTING STANDARDS • Chap. 4 Generally about Indian Accounting Standards and Practices • Chap. 5 Disclosure of Accounting Policies • Chap. 6 Valuation of Inventories • Chap. 7 Cash Flow Statements • Chap. 8 Contingencies & Events Occurring after the Balance Sheet Date • Chap. 9 Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies • Chap. 10 Depreciation Accounting • Chap. 11 Accounting for Construction Contracts • Chap. 12 Accounting for Research & Development • Chap. 13 Revenue Recognition • Chap. 14 Accounting for Fixed Assets • Chap. 15 Accounting for the Effects of Changes in Foreign Exchange Rates • Chap. 16 Accounting for Government Grants • Chap. 17 Accounting for Investments • Chap. 18 Accounting for Amalgamation • Chap. 19 Accounting for Retirement Benefits in the Financial Statement of Employers • Chap. 20 Borrowing Cost • Chap. 21 Segment Report • Chap. 22 Related Party Disclosures • Chap. 23 Leases • Chap. 24 Earning Per Share • Chap. 25 Consolidated Financial Statements • Chap. 26 Accounting for Taxes on Income • Chap. 27 Accounting for Investments in Associates in Consolidated Financial Statements • Chap. 28 Discontinuing Operations • Chap. 29 Interim Financial Reporting • Chap. 30 Intangible Assets • Chap. 31 Financial Reporting of Interests in Joint Ventures PART 3 - INTERNATIONAL ACCOUNTING STANDARDS • Chap. 32 International Accounting Standards • Chap. 33 Observations and Specimen Notes on Accounts in relation to International Accounting Standards

PART 4 - GAAP(US) • Chap. 34 Generally Accepted Accounting Practices (US-GAAP) • Chap. 35 Auditors Observations and Specimen Notes on Accounts in Relation to US-GAAP • Chap. 36 Explanatory Statement Showing Reconciliation between Indian Accounting Standards & GAAP PART 5 - CORPORATE GOVERNANCE • Chap. 37 Corporate Governance APPENDICES —1 TO 89 • Containing text of various Guidance Notes issued by ICAI etc.

Published Year: 2002 Format: n/a ISBN: INA2 Publisher: Lexis Nexis Butterworths Wadhwa Nagpur No of Pages: 1980 Our Price: India. Rs. 1,295.00 Reviews: 0 reivew(s).

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