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The Third Edition of this text, which is a thoroughly revised and enlarged version of Prof. V.K. Goyal’s book, Corporate Accounting, Second Edition, gives a clear analysis of the fundamental concepts of corporate accounting. Accounting for various types of companies comes under the sphere of corporate accounting. This book primarily deals with the preparation and presentation of accounts strictly in accordance with the provisions of the Indian Company Law. Organized into 11 chapters, this book, at the outset, presents provisions of the Indian Companies Act, 1956, SEBI’s guidelines, and different types of shares and modes for issue of shares. Then it goes on to give a detailed discussion on the conditions for redemption of preference shares with their sources and conversion of preference shares into equity shares. Besides, this text covers, in detail, topics such as different modes of issue and redemption of debentures, internal and external construction of companies, preparation of cash flow statement and its classification as well as the distinction between cash flow statement and fund flow statement. Finally, the book elaborates on several methods of analysis of financial statements and advantages and limitations of ratio analysis. This well-organized and student-friendly book is intended as a text for undergraduate students of commerce (B.Com. Programme/B.Com. Pass) in universities across India. In addition, it would be useful for professional courses such as CA, ICWA and CS. Key Features Covers concepts and principles of corporate accounting in a comprehensive manner. Includes 300 worked-out examples to illustrate the concepts discussed. Provides 250 unsolved problems in a graded manner for the benefit of students.
This book is a University Grants Commission ('UGC') & Univeristy of Delhi recommended comprehensive & authentic textbook. It aims to help readers to acquire conceptual knowledge of corporate accounting systems. It also enables them to learn how to prepare the companies' financial statements. This book is divided into two volumes: • Volume I – Text & Illustrations • Volume II – Assignments This book aims to fulfil the requirements of the following students of undergraduate courses in commerce and management: • B.Com. (Hons.) | Semester II | Paper DSC – 2.1 under the UGCF Programme as per the New Education Policy • B.Com. | Semester II | Paper DSC – 2.1 under the UGCF Programme as per the NEP • Non-Collegiate Women's Education Board (NCWEB) • School of Open Learning of the University of Delhi (SOL) • Various Central Universities throughout India The Present Publication is the 11th Edition, authored by Bhushan Kumar Goyal, with the following noteworthy features: • [Amended & Updated] o Theory & Accounting treatment has been revised as per the following § Accounting Standards – 4 (Revised) § Companies (Amendment) Act, 2019 § MCA Notification – Dated 29-03-2021 o Balance Sheets have been given as per the amended Schedule III of the Companies Act, both in questions and solutions in case of illustrations o Several illustrations on Statement of Changes in Equity have also been given o Illustration on Accounting Ratios has been added • [Simple, Systematic and Comprehensive Explanation] of the concept and theories underlying Corporate Accounting • [Student-Oriented Book] This book has been developed keeping in mind the following factors: o Interaction of the author/teacher with their students in the classroom o Shaped by the author/teacher's experience of more than 39 years o Reactions and responses of students have also been incorporated at different places in the book • [Comprehensive Coverage of Accounting Treatment] has been provided so that it becomes easy to solve practical problems • [Illustrations for Better Understanding] have been given in each chapter • [Careful Selection of Illustrations] to cover all aspects of the topics Contents of this book are as follows: • Volume I o Introduction o Issue, Forfeiture and Reissue of Shares o Issue of Rights and Bonus Shares o Employee Stock Option Plan o Underwriting of Shares and Debentures o Redemption of Preference Shares o Buy-Back of Shares o Issue and Redemption of Debentures o Financial Statements of Companies o Cash Flow Statement o Valuation of Intangible Assets and Shares o Value Added Statements o Amalgamation o Internal Reconstruction o Corporate Financial Reporting • Volume II o Accounting for Share Capital and ESOP o Underwriting of Shares and Debentures o Redemption of Preference Shares o Buy-Back of Shares o Issue and Redemption of Debentures o Financial Statement of Companies o Cash Flow Statement o Valuation of Intangible Assets and Shares o Value Added Statements o Amalgamation o Internal Reconstruction o Corporate Financial Reporting o Question Papers § B.Com. (Hons.) | SEM-II | July 2023 § B.Com. | SEM-II | July 2023
This book presents accounting concepts and practices in a simple, reader-friendly manner. It gives an in-depth understanding of the fundamentals carefully woven with years of corporate experience. In other words, this book helps the readers learn and understand the tenets encompassing: • Preparation • Use and Analysis of Financial Statements • Supplemented by Real Life Examples and Scenarios • Presented in a Concise, Simple and Comprehensive Manner This book will be helpful for students and practitioners as it covers the course of PGDM/MBA taught in leading business schools in the country. Also, the level of discussion, illustrations, and exercises covered in each chapter are well attuned to professional courses such as Chartered Accountancy in India (ICAI) and the UK's Association of Chartered Certified Accountants (ACCA). Furthermore, this book's chapters have been aligned with the course content as prescribed by the majority of Indian universities for their Commerce/Accountancy courses. The Present Publication is the Reprint July 2023 Edition, authored by Dr Narender L. Ahuja and Dr Varun Dawar. The structure of the book is as follows: • [Introduction to Accounting] Chapter 1 introduces the need for accounting and briefly explains the difference between financial accounting and management accounting. It further focuses on the purpose of preparing profit and loss account and balance sheet and discusses the need to audit financial accounts. • [Accounting Concepts, Conventions and Policies] Chapter 2 introduces the main accounting concepts and conventions. The chapter further focuses on the distinction between accrual and cash accounting systems and identifies the qualitative characteristics of financial statements. • [Recording Transactions in the Journal and the Ledger] Chapter 3 discusses the accounting equation and double-entry accounting principles for recording transactions involving assets, liabilities, capital, expenses and revenues. It further identifies the steps in the accounting cycle and explains how to analyse transactions for journalising and ledger posting. • [Trial Balance to Financial Statements] Chapter 4 introduces the readers to trial balance and its preparation, including the adjustment entries required for various items. • [Inventory, Depreciation and Accounting Errors] Chapter 5 discusses the main cost formulae for inventory valuation. It further focuses on the primary methods for calculating depreciation, including its accounting treatment. • [The Annual Report – Qualitative and Quantitative Disclosures] Chapter 6 discusses the general disclosures in an annual report in terms of the requirements of various bodies and highlights the structure and format of an annual report. This chapter helps readers understand the objectives of the Management Discussion and Analysis section and the significance of the Director's and Auditor's reports. This chapter aims to enable readers to understand the progress or health of the state of affairs of a company through its yearly document, the 'Annual Report'. • [Analysing Financial Statements – I | Financial Ratios Analysis] Chapter 7 discusses the need for financial ratios analysis and covers various types of ratios such as liquidity ratios, profitability ratios and capital structure ratios and their use in carrying out inter-firm and inter-period comparison of performance. • [Analysing Financial Statements – II | Horizontal, Common-size and Trend Analysis] Chapter 8 discusses the important yet simple techniques of horizontal, common-size and trend analysis, which are integral to financial ratios analysis. • [Statement of Cash Flows] Chapter 9 introduces the readers to the cash flow statement, its importance and uses. The chapter further explains the methods of computing activity-wise cash flows and their analysis and interpretation. • [Consolidated Financial Statements | Introduction, Balance Sheet Consolidation, Consolidated Profit & Loss Statement and Further Aspects] Chapter 10 and Chapter 11 discuss the meaning of parent-subsidiary relationship and objectives of consolidated financial statements. These chapters would help readers understand the basic principles of preparing the consolidated statements and enumerate differences between the treatment of pre-acquisition and post-acquisition profits for consolidation. • [Consolidated Financial Statements – III | Vertical & Mixed Groups, Piecemeal Acquisitions and Associates] Chapter 12 introduces the readers to the consolidation of vertical and mixed groups and the consolidation of piecemeal acquisitions and associates. • [Convergence of Indian Accounting Standards with IFRS] Chapter 13 discusses the need for uniformity and transparency in reporting standards and the roadmap for implementation of Indian Accounting Standards (Ind AS) to achieve convergence with IFRS (International Accounting Standards). The chapter further lists the major differences between the Indian GAAP (current Indian accounting standards), converged Indian accounting standards (Ind AS) and IFRS.
Accounting Standards (AS) contains the updated Accounting Standards Rules, 2021, notified under the Companies Act, 2013, [enforced with effect from 01-04-2021]. The Present Publication is the July 2023 Edition, updated till 18th July 2023. This book is edited by Taxmann’s Editorial Board, with the following noteworthy features: • [Text of New Accounting Standard Rules, 2021] notified under Companies Act, 2013 (Enforced w.e.f. 1-4-2021) • [Detailed Guide on Exemptions/Relaxations] in Accounting Standards for Small and Medium Companies (SMCs) • [Complete Checklist] on the applicability of Accounting Standards for SMCs and Non-SMCs The contents of the book are as follows: • Arrangement of Rules o Short Title and Commencement o Definitions o Accounting Standards o Obligation to Comply with Accounting Standards o Qualification for Exemption or Relaxation in respect of SMC • General Instructions • Accounting Standards o Accounting Standard (AS) 1: Disclosure of Accounting Policies o Accounting Standard (AS) 2: Valuation of Inventories o Accounting Standard (AS) 3: Cash Flow Statements o Accounting Standard (AS) 4: Contingencies and Events occurring after the Balance Sheet Date o Accounting Standard (AS) 5: Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies o Accounting Standard (AS) 7: Construction Contracts o Accounting Standard (AS) 9: Revenue Recognition o Accounting Standard (AS) 10: Property, Plant and Equipment o Accounting Standard (AS) 11: The Effects of Changes in Foreign Exchange Rates o Accounting Standard (AS) 12: Accounting for Government Grants o Accounting Standard (AS) 13: Accounting for Investments o Accounting Standard (AS) 14: Accounting for Amalgamations o Accounting Standard (AS) 15: Employee Benefits o Accounting Standard (AS) 16: Borrowing Costs o Accounting Standard (AS) 17: Segment Reporting o Accounting Standard (AS) 18: Related Party Disclosures o Accounting Standard (AS) 19: Leases o Accounting Standard (AS) 20: Earnings Per Share o Accounting Standard (AS) 21: Consolidated Financial Statements o Accounting Standard (AS) 22: Accounting for Taxes on Income o Accounting Standard (AS) 23: Accounting for Investments in Associates in Consolidated Financial Statements o Accounting Standard (AS) 24: Discontinuing Operations o Accounting Standard (AS) 25: Interim Financial Reporting o Accounting Standard (AS) 26: Intangible Assets o Accounting Standard (AS) 27: Financial Reporting of Interests in Joint Ventures o Accounting Standard (AS) 28: Impairment of Assets o Accounting Standard (AS) 29: Provisions, Contingent Liabilities and Contingent Assets
* Comprehensive, updated and balanced coverage to help the students understand financial reporting environment accounting standards and contemporary issues in company financial reporting such as accounting for changing prices segment reporting, social accounting and reporting, interim reporting, value added reporting, environmental reporting, corporate governance reporting, human resource accounting and reporting, and global convergence of IFRs. * Covers latest ideas, researches and developments having taken place in the subject-matter. * Use of numerical illustrations, diagrams and graphical exhibits to explain concepts, principles and underlying theory. * Contains literature and materials useful to researchers, practicing managers, accounting professionals and others interested in Company Financial Reporting. * Clear, concise and student-friendly presentation. * Highly useful for post-graduate students of universities and professional examinations to meet their syllabi requirement in courses like Corporate Financial Reporting such as M.COM/MBA/CA/ICWA/ICSI and other professional courses.
Economic reforms initiated in India since early 1990s have led to increasing attention being devoted to accounting standards as a means towards ensuring potent and transparent financial reporting by corporations. International Financial Reporting Standards (IFRSs) - issued by the International Accounting Standards Board (IASB) as the uniform language of business to protect the interests of international investors - have brought into focus the need for reforms in accounting procedures in different countries. IFRSs have been made applicable in India for specified business entities. The new accounting norms have posed challenges for business enterprises in terms of presentation of accounts, and accounting policies and procedures. This book explains the requirements of IFRSs and the attending implementation hurdles in India.
This book is prepared exclusively for the Intermediate Level of Chartered Accountancy Examination requirement. It covers the new syllabus per ICAI. It applies to Group I | Paper 1 – Advanced Accounting. It simplifies complex accounting concepts and ensures that readers can confidently apply these standards practically. The approach taken by the authors combines theoretical rigour with practical insight, helping students build a solid foundation for their exams and future professional practice. The Present Publication is the 13th Edition for the CA-Inter | New Syllabus | Jan./May 2025 Exam. This book is authored by Dr D.S. Rawat & CA. Nozer Shroff, with the following noteworthy features: • Strictly as per the New Syllabus of the ICAI • [Comprehensive Coverage] The book covers all Accounting Standards (AS) as required by the syllabus, offering in-depth explanations and practical examples to enhance understanding. Each standard is explained in a student-friendly manner, ensuring clarity and ease of learning. • [Problems & Solutions] The book integrates questions from past examinations into each Accounting Standard, providing students ample practice and helping them understand how theoretical knowledge is applied in exam scenarios. Solutions are presented in a step-by-step manner to aid in comprehension. • [Past Exam Questions & Answers] Previous examination questions, along with detailed answers, are included in the book. These serve as a vital tool for exam preparation, allowing students to familiarize themselves with the exam pattern and the types of questions asked. • [Student-Oriented Book] The authors have developed this book keeping in mind the following factors: o Interaction of the authors with their students, with specific emphasis on difficulties faced by students in the examinations o Shaped by the author's experience of teaching the subject matter at different levels o Reactions and responses of students have also been incorporated at different places in the book The detailed contents of this book are as follows: • Introduction to Accounting Standards (ASs) and Indian Accounting Standards (Ind Ass) • Framework for the Preparation and Presentation of Financial Statements • AS-1 | Disclosure of Accounting Policies • AS-2 | Valuation of Inventories • AS-3 | Cash Flow Statement • AS-4 | Contingencies and Events occurring after the Balance Sheet date • AS-5 | Net Profit or loss for the period, prior period items and change in accounting policies • AS-7 | Construction Contracts • AS-9 | Revenue Recognition • AS-10 | Property, Plant and Equipment • AS-11 | The Effects of Changes in Foreign Exchange Rates • AS-12 | Accounting for Government Grants • AS-13 | Accounting for Investments • AS-14 | Accounting for Amalgamation • AS-15 | Employee Benefits • AS-16 | Borrowing Costs • AS-17 | Segment Reporting • AS-18 | Related Party Disclosure • AS-19 | Accounting for Leases • AS-20 | Earnings Per Share • AS-21 | Consolidated Financial Statements • AS-22 | Accounting for Taxes on Income • AS-23 | Accounting Investments in Associates in Consolidated Financial Statements • AS-24 | Discontinuing Operations • AS-25 | Interim Financial Reporting (IFR) • AS-26 | Intangible Assets • AS-27 | Financial Reporting of Interest in Joint Venture • AS-28 | Impairment of Assets • AS-29 | Provisions, Contingent Liabilities and Contingent Assets
This book is prepared exclusively for the Intermediate Level of Chartered Accountancy Examination requirement. It covers the new syllabus per ICAI. It applies to Group I | Paper 1 – Advanced Accounting. This book presents the accounting standards in simple language and equips the reader to apply the accounting standards. The Present Publication is the 12th Edition & updated till 30th April 2024 for the CA-Inter | New Syllabus | Sept. 2024/Jan. 2025 Exam. This book is authored by Dr D.S. Rawat & CA. Nozer Shroff, with the following noteworthy features: • Strictly as per the New Syllabus of the ICAI • [Coverage of this Book] includes: o All Accounting Standards (AS) • [Problems & Solutions] Questions on Accounting Standards of past examinations have been incorporated into the respective AS. • [Past Exam Questions & Answers] are included in this book • [Student-Oriented Book] The authors have developed this book keeping in mind the following factors: o Interaction of the authors with their students, with specific emphasis on difficulties faced by students in the examinations o Shaped by the author's experience of teaching the subject matter at different levels o Reactions and responses of students have also been incorporated at different places in the book The detailed contents of this book are as follows: • Introduction to Accounting Standards (ASs) and Indian Accounting Standards (Ind Ass) • Framework for the Preparation and Presentation of Financial Statements • AS-1 | Disclosure of Accounting Policies • AS-2 | Valuation of Inventories • AS-3 | Cash Flow Statement • AS-4 | Contingencies and Events occurring after the Balance Sheet date • AS-5 | Net Profit or loss for the period, prior period items and change in accounting policies • AS-7 | Construction Contracts • AS-9 | Revenue Recognition • AS-10 | Property, Plant and Equipment • AS-11 | The Effects of Changes in Foreign Exchange Rates • AS-12 | Accounting for Government Grants • AS-13 | Accounting for Investments • AS-14 | Accounting for Amalgamation • AS-15 | Employee Benefits • AS-16 | Borrowing Costs • AS-17 | Segment Reporting • AS-18 | Related Party Disclosure • AS-19 | Accounting for Leases • AS-20 | Earnings Per Share • AS-21 | Consolidated Financial Statements • AS-22 | Accounting for Taxes on Income • AS-23 | Accounting Investments in Associates in Consolidated Financial Statements • AS-24 | Discontinuing Operations • AS-25 | Interim Financial Reporting (IFR) • AS-26 | Intangible Assets • AS-27 | Financial Reporting of Interest in Joint Venture • AS-28 | Impairment of Assets • AS-29 | Provisions, Contingent Liabilities and Contingent Assets