Bharat Company Balance Sheet and Profit & Loss Account under Accounting Standards & Schedule III By CA. Kamal Garg Edition May 2023

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Bharat Company Balance Sheet and Profit & Loss Account Kamal Garg

Bharat Company Balance Sheet and Profit & Loss Account Kamal Garg

‘Company Balance Sheet and Profit & Loss Account under Accounting Standards & Schedule III’ for the Financial Year 2022- 2023 will serve as a ready referencer for the Corporates, Chartered Accountants and other professionals involved, directly or indirectly, in the preparation of Accounting Standards compliant annual accounts. The unique features of this book are:

  1. Schedule III of the Companies Act, 2013, laying down the format for preparation of the financial statements, has been amended. The amendments have been effected by MCA Notification No. GSR 207(E), dated 24-3-2021, w.e.f. 1-4-2021. Each and every aspect of Part I and Part II of Division I of Schedule III (as amended) to the Companies
  2. Act, 2013, has been dealt extensively in separate chapters by coordinating all its requirements with the provisions contained in Companies (Accounting Standards) Rules, 2021 effective from 1st April, 2021;
  3. Gist of Accounting Standards (AS) have been included at relevant places along with the Companies (Accounting Standards) Rules, 2006 as amended;
  4. The opinions of Expert Advisory Committee (EAC) of the Institute of Chartered Accountants of India (ICAI) have also been included for various relevant accounting aspects;
  5. The book also contains relevant extracts from the annual reports of some of the well known Indian Corporates under Schedule III;
  6. A separate chapter has been devoted for Reporting under Micro, Small and Medium Enterprises Act, 2006;
  7. It also contains a chapter on CARO, 2020 – Checklist;
  8. The present book enlists and discusses certain significant practice pointer issues on Accounting Standards that may be encountered during the preparation and presentation of financial statements;
  9. The book contains a dedicated chapter on “Commonly Found Non-Compliances of Schedule III of the Companies Act, 2013”;
  10. Formats of specified financial statements under Accounting Standards & Schedule III.

About Author:

Kamal Garg :CA. Kamal Garg is a Fellow Member of The Institute of Chartered Accountants of India (ICAI) and a First Class Commerce Baccalaureate from Deen Dayal Upadhyaya College, University of Delhi and an academic resource partner in KGMA, Delhi. He has also qualified post qualification course on Diploma in Information System Audit (DISA) conducted by ICAI. Besides this he is also an Insolvency Professional registered with Insolvency and Bankruptcy Board of India (IBBI). He was also the member of Board of Studies (BOS) Study Material Research Group (2009-2010) of NIRC of ICAI and a special invitee member of Accounting Standards Board (ASB) [2012-2013 and 2020-2021] and Ind-AS (IFRS) Implementation Committee [2014-2015] of ICAI. He was also nominated as a special invitee member to the Committee on Banking, Insurance and Pension (2014-2015) of NIRC of ICAI. He is also the faculty resource of Ethical Standards Board (ESB) and Peer Review Board (PRB) of ICAI. He is also a key resource person for development and review of various study contents and webcasts for BOS of ICAI, such as study material and practice manual on Advanced Auditing for CA Final, eLectures for CA IPCC and CA Final studies, etc.

Besides being a regular guest speaker for IFRS and Management Development Programmes at various forums including ICAI and ICSI, he is also an author of over dozens of book(s) and commentaries on and including ‘IFRS and Ind AS Concepts and Applications’, ‘Concise Commentary on Companies Act’, ‘Companies Resolutions, Notices, Meetings and Minutes’, ‘Borrowings, Loans and Investments by the Companies – Law, Accounting and Taxation’, ‘NFRA – Law and Practice’, ‘Ind AS – a Ready Reckoner’, ‘Standards on Auditing – a Practitioner’s Guide’, ‘Concise Commentary on Insolvency and Bankruptcy Code, 2016’, Series of Books on Companies Act, 2013, ‘Corporate Social Responsibility’, ‘Guide to Tax Audit u/s 44AB’, ‘CARO, 2016’, ‘Statutory Audit Ready Reckoner’, ‘Forensic Accounting’, ‘Foreign Direct Investments in India’, Auditors’ Practice Manual’, ‘Handbook on Company’s Balance Sheet and Profit & Loss Account under Schedule III, ‘Handbook on Internal Auditing’, ‘Consolidated Financial Statements’, ‘Interim Financial Reporting’, ‘Guide to International Taxation’, ‘Understanding Goods and Service Tax (GST)’, ‘Corporate and Allied Laws including Insolvency and Bankruptcy Code’, ‘Insolvency and Bankruptcy Code – a Ready Reckoner’, ‘Professional Approach to Advanced Auditing’ for CA (Final) studies and ‘Systematic Approach to Auditing’ for CA (PCC) studies, mostly published by Bharat Law House Pvt Ltd.

He has to his credit the contribution of ‘Gist of Accounting Standards and Auditing and Assurance Standards’ for Vol. 2 of Company Law published by BLH and various articles for NIRC and CIRC of ICAI Newsletter on IFRS, Companies Act, IBC, FBT, MAT, US-SOX, CARO, FEMA, etc. and a series of articles on ‘Delhi Value Added Tax (DVAT) – Taxation, Accounting and Auditing Aspects’ for the Journal Tax and Corporate Referencer (TCR) including various articles on External Commercial Borrowings (ECB), Direct Taxes, and Foreign Investments for TCR.

He possesses a rich industry experience in the areas of Corporate Laws (like Companies Act, FEMA, Taxation, Foreign Collaborations, Joint Ventures, etc.), Audits and Management Consultancy.

Weight 1.602 kg
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