This book is prepared exclusively for the Final Level of Chartered Accountancy Examination requirement. It covers the entire revised syllabus as per ICAI. This book serves as a guide for students & professionals, and the objectives of this book are as follows:
It helps the reader acquire the ability to integrate & solve problems in practical scenarios on Indian Accounting Standards (Ind AS). It also assists the reader in deciding the appropriate accounting treatment and formulation of suitable accounting policies
While preparing and presenting the financial statements, this book helps in the ability to recognize and apply disclosure requirements specified in Ind AS
Acquiring/developing the skill to prepare financial statements of group entities based on Ind AS
Develop an understanding of the various forms of reporting (other than financial statements) and accounting for special transactions, and apply such knowledge in problem-solving

The Present Publication is the 7th Edition for CA-Final | Nov. 2023 exam. This book is authored by CA Parveen Sharma & CA Kapileshwar Bhalla, with the following noteworthy features:
[New Features of the 7th Edition] are as follows:
o Incorporates 'notes', which acts as a mind map for last-minute revision for the exams
o Incorporates the teaching style as used in a live class
o Incorporates a 'step-by-step approach'/' 3-step model' for almost all Ind ASs, which will help students to crack the complexities of the subject with ease
o Covers both the concepts and questions in one place, which is the key to scoring well in FR
[Difficulties Encountered by Students in Exams] have been presented and discussed in this book
[Special emphasis on Ind AS strictly from an examination point of view] including the following:
o Difference between AS & Ind AS
o Carve-ins and Carve-outs w.r.t. IFRS
[Clarifications & Examples] have been given at various places to make the reader quickly understand the complexities involved in Ind AS
[Pointers for Important Issues] have been highlighted at various places
[1,000+ Examples, Diagrams, Charts, Clarifications & Explanations] are given to address the complicated standards
[Arrangement of Questions] has been done to suit beginners as well as experts by covering the following:
o Objective Questions
o Descriptive Questions
o Practical Questions
o Advanced Questions
Coverage of this book includes:
o Past Examination Papers, including the May 2023 exam with suggested answers
o Mock Test Papers (MTPs) of ICAI
o Revisionary Test Papers (RTPs) of ICAI
o Selected questions from Educational Materials of ICAI
o Selected Ind AS Bulletins
[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

Detailed contents of this book are as follows:
Introductory Standards
o Ind AS 10 – Events after Reporting Period
o Ind AS 37 – Provision, Contingent Liability and Contingent Assets
Asset Related Standards
o Ind AS 2 – Inventories
o Ind AS 16 – Property, Plant and Equipment
o Ind AS 38 – Intangible Assets
o Ind AS 40 – Investment Property
o Ind AS 41 – Agriculture
o Ind AS 105 – Non-Current Assets (NCA) held for Sale & Discontinued Operations (DO)
o Ind AS 23 – Borrowing Costs
o Ind AS 36 – Impairment of Assets
Slightly Complicated Standards
o Ind AS 12 – Income Taxes
o Ind AS 21 – The Effects of Changes in Foreign Exchange Rates
o Ind AS 19 – Employee Benefits
o Ind AS 20 – Accounting for Government Grants and Disclosure of Government Assistance
o Ind AS 8 – Accounting Policies, Changes in Accounting Estimates and Errors
o Ind AS 102 – Share-Based Payments
Complex Standards
o Ind AS 103 – Business Combination
o Group Accounts
o Financial Instruments (FI)
o Ind AS 113 – Fair Value Measurements
o Ind AS 115 – Revenue from Contracts with Customers
o Ind AS 116 – Leases
Disclosure Related Standards
o Ind AS 108 – Operating Segments
o Ind AS 24 – Related Party Disclosures
o Ind AS 33 – Earnings Per Share
Basic Standards
o Ind AS 7 – Cash Flow Statement
o Ind AS 34 – Interim Financial Reporting
o Ind AS 1 – Presentation of Financial Statements
First Time Adoption
o Ind AS 101 – First-Time Adoption of Ind AS
Non-Ind AS
o Corporate Social Responsibility
o Integrated Reporting
o Framework for Financial Reporting under Ind AS
o Roadmap to Ind AS
o Formats of Financial Statements