Foreword
Accounting for Investments is a complex exercise in view of the varied kinds of instruments that have emerged in the market recently. The flow of funds across the borders in the form of financial instruments is ever increasing in the global scenario. Equities, futures and options have trade life cycles, and accounting treatments on those life cycles from the front office and back office perspectives call for detailed elucidation. There are hardly any books that provide guidance in these matters. This book is a commendable effort to fill the knowledge gap that exists in the accounting of financial instruments.
International Financial Reporting Standards (IFRS), encompassing IAS 32, IAS 39, and IFRS 7, deal with the principles involved in recognition, measurement, disclosure, and presentation of financial instruments. The Institute of Chartered Accountants of India (ICAI) has come out with corresponding Accounting Standards (AS): AS 30 on “Financial Instruments—Recognition and Measurement,” AS 31 on “Financial Instruments—Presentation,” and AS 32 on “Financial Instruments—Disclosures.”
In sum and substance, the Indian Accounting Standards are the same as the corresponding IFRS. This book deals with the principles laid down in the IFRS as well as the similarities and differences between U.S. generally accepted accounting principles (GAAP) and IFRS. In that sense, one can say without fear of contradiction that this book is a comprehensive treatise of the subject.
Mr. R. Venkata ...
