Financial Instruments is by far the most complex and difficult subject in the field of accounting. The varied nature of such instruments with a wide range of derivatives and associated risk makes the task of measuring and reporting extremely challenging even for experts in the subject. A number of books have been written on IFRS and more recently on Ind AS but very few books have dwelt at length on the subject of financial instruments.
This book by CA R. Venkata Subramani demystifies the subject of accounting for Financial Instruments and is extremely useful for practitioners, preparers, finance professionals and even for any person with basic knowledge of this subject. Written in a lucid manner with practical examples and screen shots of real data, it enables readers to very quickly grasp the principles and facilitates easy application of these principles. The inclusion of extracts from Annual Reports and FAQs enhances the utility of this book.
A book of this nature is very useful at a time when India has transitioned to Ind AS for certain large ‘public interest’ entities effective April 1, 2016 and the financial services sector too following soon.
I have no doubt this book will be a treasure for every professional and my compliments and best wishes to CA R. Venkata Subramani.