T N ManoharanMr R. Venkata Subramani, known for his expertise in the field of Financial Instruments accounting, has come up with a new edition of his book on Accounting for Financial Instruments as per Ind AS, incorporating all the relevant aspects in various chapters. The book lucidly deals with the various dimensions of presentation, classification, recognition, measurement and derecognition of Financial instruments in the initial chapters which would empower any reader with a conceptual understanding of the subject matter. The Book further explains in a lucid manner the impairment methodology in addition to elucidating on embedded derivatives and its reclassification.

The book 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. Guidance is also provided on first time adoption of the accounting standards for financial instruments. There is cross reference provided to the guidance note on accounting for derivatives. The guidance note on accounting for derivatives and extracts from annual reports incorporated in the last two chapters should serve as ready reference to the users of book.

Mr.R.Venkata Subramani is a Chartered Accountant having immense knowledge and expertise on the matters dealt with in this book. The benefit of his hands-on experience and in depth practical exposure is reflected in the illustrations given in the various chapters of this book. 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 book 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 book 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.

Sri T.N. Manoharan
Chairman, Canara Bank
Padma Shri Awardee
Former President of ICAI

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