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Description
The fourth edition of this book comes with the following extra features -
• Answers to the recent main examination questions;
• In total around past 27 Years Exam Questions Covered at the appropriate place.
• Better presentation of theory and working notes for Illustrations;
• Use of pictures, diagrams and charts for clarity;
• "For Your Practice" / "Exercises" section with final answers;
• Additional coverage of "Guidance Notes" issued by the ICAI.
The Authors wish to state certain key aspects to assist students in their preparation -
• Accounting is an art and confidence can be gained by 'practicing" illustrations
with 'involvement'.
• Procedure / principle for treating specific items e.g. elimination of unrealized
profits in consolidation process, should be 'remembered'. In any question, the
procedure / principle remains the same for this item.
• In Chapter on "Amalgamation" and "Consolidation", 'adjustments' are made
to two tallied Balance Sheets. If Debit and Credit principles are taken care of
properly, the final / revised Balance Sheet can be easily drawn.
• Reasonable assumptions (within the scope of the question), can be made in
appropriate situations e.g. use of Closing Capital Employed or Average Capital
Employed, in Valuation of Goodwill / Shares.
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Contents
1. Valuation of assets, business, goodwill and shares
(A) Assets
(B) Business
(C) Goodwill
(D) Shares
2. Accounting for amalgamations and reconstruction
3. Consolidated financial statements
4. Accounting for not-for-profit institutions
5. Developments in accounting
(A) Developments in Accounting and Financial Reporting
(B) Value Added Statements
(C) Economic Value Added Statements
(D) Corporate Social Reporting
(E) Human Resource Accounting
(F) Environmental Accounts
(G) Company Final Accounts and Miscellaneous
(H) Financial Institutions - Mutual Funds, NBFC, Merchant Bankers etc.
6. Guidance notes
(A) Terms used in Financial Statements
(B) Accounting Matters - Accrual, Revaluation Reserves, Guarantees etc.
(C) Tax Items -MAT, CDT, FBT, Excise Duty, CENVAT, VAT
(D) Derivatives -Equity Index / Stock Options, Equity Index Futures
(E) Special Business & Reports - Securitisation, Oil and Gas Production etc.
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