Message from Shri Yagnesh Mohanlal Desai

Yagnesh Desai Small

I have gone through the manuscript of Book – 1 viz., ‘Financial Instruments – An Introduction as per Ind AS 109’ in the series ‘Financial Instruments as per Ind AS’.

CA R Venkata Subramani (Venkat), has rich and varied experience spanning across the entire gamut of Financial Instruments. He has helped implementation of IFRS / Ind AS especially hedge accounting for several international banks in Europe/APAC region. He is also known for his expertise in computing Expected Credit Loss (ECL) for non-banking financial companies. His hands-on experience has helped him understand the nuances of the subject in great detail. I am extremely happy that he has passed on his rich experience through this book, thereby bringing the most difficult subject Financial Instruments within the reach of the accounting fraternity. He has used several illustrations, examples, charts and tables, to explain the most difficult aspects of financial instruments in a very lucid, comprehensible, yet interesting manner.

Though accounting and many related aspects in the present era is greatly influenced by Artificial Intelligence and computer software, for understanding the basics of any accounting, anyone will agree that journal entries and ledgers are the best means. The author has explained the basics by extensively using journal entries and related ledgers.

Keeping pace with the time, very sensibly, the Book is brought out also in Kindle format, making it easily accessible anywhere and at any time.

I am sure this series including this volume will be immensely useful to all those who need to study or implement accounting for Financial Instruments be it students of chartered accountancy exam, Dip in IFRS, or our professional colleagues in industry or in practice. To summarize, I would say that this book has broken the myth that ‘accounting for Financial Instruments is a tough subject’. My best wishes to Venkat for the publication of the rest of the volumes in this series which would greatly benefit the entire chartered accountant fraternity.

27th Nov 2020

CA Yagnesh Mohanlal Desai

Chartered Accountant

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