Description

About the book

The book “Treatise on Leases” has been written very scrupulously to serve as a one-stop shop for accounting guidance on leases across the globe. The standard on leases has been revamped and brought tremendous changes in the accounting for lessees, while the accounting for lessors remains largely unchanged.

With the alignment of IFRS and US GAAP on this standard and consequential introduction of Ind AS, users could feel an emergent need for a comprehensive guide to refer for lease transactions. This book is an endeavor to cater to the needs of users across the globe.

The book comprises accounting guidance on leases in accordance with GAAP and Ind AS. The text of Ind AS is meant to be referred to in the context of IFRS as well, as there is no major difference between these two standards.

To give a holistic and comprehensive view of local and global standards, a detailed comparison of Ind AS, IGAAP, IFRS, and US GAAP has been given. For easy understanding various case studies and practical examples have been used, a detailed analysis of a sample lease agreement has been given in the book.

In order to allow readers, test their knowledge multiple-choice questions have been incorporated and to make this book a comprehensive solution, authors have given disclosure checklists based on AS, Ind AS, and IFRS. Further, for a more practical and realistic outlook, the book comprises disclosures from published financial statements of Indian and global listed companies.

The book is updated as of October 2021 and serves a wide audience ranging from CA final students to qualified CA, CS, ICWA, CFOs, finance professionals, accountants, and corporates.

It’s a treatise that inscribes the transfiguration of financial reporting of lease transactions in the history of accounting, giving its readers an in-depth insight into its each and every detail.

Highlight

• Comprehensive commentary on Ind AS 116/IFRS 16 and AS 19 explained with practical examples and case studies.
• In-depth analysis of a sample lease agreement on the basis of Ind AS 116/IFRS 16.
• Multiple Choice Questions on Ind AS/IFRS and GAAP.
• Detailed comparison of various GAAPs: Ind AS, IGAAP, IFRS, US GAAP, and ICDS.
• Disclosure checklist for Ind AS, IFRS, and IGAAP.
• Detailed leases disclosures extracted from financials of Indian and global listed companies w.r.t various GAAPs.
• Exposure Draft on Sale and Leaseback Transactions issued by IASB which is open for public comments by 29th March 2021.
• Bare standards on Ind AS 116 and AS 19.
• Published Annual Reports of various Indian and global companies complying with Ind AS, IGAAP, IFRS, or US GAAP.