With the objective of providing conceptual clarity and connecting learners to accounting in practice, this new edition continues to focus on building the concepts in financial accounting from a decision-making perspective.

The major highlights of this new edition are that it gives an updated status on Schedule VI of the Indian Companies Act, Indian Accounting Standards as well as summarizes the key places of difference between Indian Accounting Standards (Ind AS) and International Financial Reporting Standards (IFRS). As in the previous editions, this text prepares the managers’ ability to understand and evaluate accounting reports with the help of real-world examples and cases.