How to use Ind AS Made Easy Textbook for CA-Final | Paper-1 | Financial Reporting (FR)?

Check out Taxmann's Ind AS Made Easy (FR) | TEXTBOOK which is the most updated & amended self-study material providing the subject matter in a simple and lucid language. It incorporates 1,000+ questions & answers and a conceptual understanding of each point with a detailed explanation. This book covers all amendments till April 2022.

CA-Final | New Syllabus | Nov. 2022 Exams

This subject “Ind AS” is a beautiful subject but remember it is very vast and thought provoking subject. All the standards are interlinked with each other. To understand this better, you need to follow a sequence of study:

Authors Recommendations

• • Before starting – Remember, this is a new to you – So, expect new words (technical terminology, new vocabulary and jargon) and you should remember those words and use them in the exam;
  • Ind AS Made Easy (FR) | TEXTBOOK contains a few instructions at the beginning of every chapter. We suggest you strictly follow them;
  • We suggest you to prepare your own summary of each standard and revise it frequently so that you will be able to understand the linkage provided by us;
  • Maintain a library of new and important words like definitions which will enhance your understanding of these words in different contexts and will build your vocabulary;
  • We strongly believe a command over technical words and their appropriate usage will gain confidence of the examiner and may contribute to additional marks in the exam.

We recommend to follow this sequence for better understating of the subject.

Start with

1. 1. Introduction
   2. Framework for Preparation and Presentation of Financial Statements (Very Important)
   3. Important Basics of Ind AS.

Having basic understanding of Balance sheet and P&L format for Ind AS financial statements will help you to understand the presentation & disclosure requirement. We recommend you to have a look at “Division II of Schedule III of the Companies Act, 2013” from our book “Financial Reporting Made Easy”;

Now, let us start with the standards

1. 1. Ind AS 10 – Events after the Reporting Period;
   2. Ind AS 8 – Accounting Policies, Change in Accounting Estimate and Errors;
   3. Ind AS 37 – Provisions, Contingent Liabilities and Contingent Assets;
   4. Ind AS 20 – Accounting for Government Grants;
   5. Ind AS 23 – Borrowing Costs;
   6. Ind AS 16 – Property, Plant and Equipment (PPE);
   7. Ind AS 38 – Intangible Assets;
   8. Ind AS 40 – Investment Property;
   9. Ind AS 41 – Agriculture;
   10. Ind AS 36 – Impairment of Assets;
   11. Ind AS 105 – Non-current Assets Held for Sale and Discontinued Operations;
   12. Ind AS 21 – The Effects of Changes in Foreign Exchange Rates;
   13. Ind AS 19 – Employee Benefits;
   14. Ind AS 24 – Related Party Disclosures;
   15. Ind AS 2 – Inventories;
   16. Ind AS 1 – Presentation of Financial Statements;
   17. Ind AS 27 – Separate Financial Statements;
   18. Ind AS 12 – Income Taxes;
   19. Ind AS 34 – Interim Financial Reporting;
   20. Ind AS 108 – Operating Segments;
   21. Ind AS 116 – Leases;
   22. Ind AS 115 – Revenue from Contracts with Customers;
   23. Ind AS 113 – Fair Value Measurement;
   24. Ind AS 109, 107 & 32 – Financial Instruments;
   25. Ind AS 33 – Earnings Per Share;
   26. Ind AS 101 – First-time Adoption of Indian Accounting Standards