Foreword by Shri T N Manoharan
Mr R. Venkata Subramani, known for his expertise in the field of Financial Instruments accounting, has come up with a new series of books on Financial Instruments as per Ind AS, incorporating all the relevant aspects of accounting for financial instruments. Each book in the series lucidly deals with the various dimensions of presentation, classification, recognition, measurement and derecognition of Financial instruments. The introductory book deals with the nuances of financial instruments which would empower any reader with a conceptual understanding of the subject matter to pursue the study of other books in the series. The other books in the series explain in a lucid manner the presentation, classification, recognition, measurement & derecognition of financial instruments and impairment methodology in addition to elucidating on embedded derivatives and its reclassification.
This series of books adequately deals with Hedge accounting both in terms of fair value dimension as well as cash flow dimension. Comprehensive coverage on fair value measurement of financial instruments and effects of changes in forex rates should be immensely useful to those who refer to this book. The extracts from annual reports incorporated at the end of each book should serve as ready reference to the users of this series of books.
Mr. R. Venkata Subramani is a Chartered Accountant having immense knowledge and expertise on the matters dealt with in this series. The benefit of his hands-on experience and in depth practical exposure is reflected in the illustrations given in the books. Accounting standards notified as IND AS are Indian version of the IFRS with appropriate modifications. All the business organizations are expected to comply with the IND AS within the timelines prescribed. Considering the complex nature of accounting for financial instruments and in the light of compliance requirement of new set of standards notified by the Government as IND AS, the significance of this book cannot be undermined.
Banks, financial institutions, Insurance companies, Investment bankers, dealers, brokers, professionals and other investors would find this series of books quite useful in the day-to-day operations, as various concepts unique to the financial instruments are explained besides laying down the accounting treatment in a detailed manner. This series of books will be a useful addition to any library, which serves as a source of knowledge and information to all those associated with financial instruments accounting.
14th November, 2020
Former Chairman, Canara Bank
Padma Shri Awardee
Former President of ICAI