This book is a guide to Indian Accounting Standards with ‘Basis for Conclusion’, ‘Illustrative Examples’, ‘Implementation Guidance’ and ‘ITFG Guidance’.

The Present Publication, is the 5th Edition, as amended by Companies (Indian Accounting Standards) Amendment Rules 2020 (w.e.f. 24-07-2020)

The commentaries in the book provide comprehensive guidance on the following:

• What deliberations were made while forming the standards

• Comprehension of various provisions mentioned across Ind AS

• Guidance on how to implement the standards under various practical scenarios.

The coverage of the book is as follows:

• Illustrative examples for better comprehension

• Implementation Guidance indicating step-by-step on how complex provisions shall be implemented

• Basis for conclusion explaining what deliberations were made while framing the standards

• Opinions on implementation of Ind AS

This book provides guidance for professionals who are engaged in the practice involving Indian Accounting Standards (Ind AS). This book is also useful for corporate teams involved in making financial statements as well as auditors