Introduction to Financial Reporting (FR) – CA FINAL

We are delighted to introduce our CA Final Financial Reporting (FR) based on Ind AS new syllabus, through the insights of a corporate professional who studied IFRS in 2007 and began his professional career in IFRS corporate trainings to teach/train chartered accountants, MBA’s, ICWA’s, finance & accounting professionals holding designations like Assistant Manager’s, Manager’s, Associate Director’s, Directors and even CFO’s of multinational companies.

Financial reporting is the disclosure of financial results and related information to management and external stakeholders such as investors, customers, and regulators about how a company is performing over a specific period of time. The objective of the Financial Reporting, according to International Accounting Standard Board (IASB), is “to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions.

A Financial Report includes the External financial statements (income statement, statement of comprehensive income, balance sheet, statement of cash flows, and statement of stockholders’ equity) … Quarterly and annual reports to stockholders.

IFRS stands for International Financial Reporting Standards, a common reporting requirement globally as of today.

In 2008, India was signatory in a G20 Summit to move to IFRS from April 2011 onwards in the form of Ind AS (Converged form of IFRS). This announcement resulted in sudden demand for learning IFRS among accounting & finance professionals working in corporate and very few people in the country who had knowledge of IFRS.

ACCA Amit Kumar is one of the first IFRS corporate training professional in India, who began training on IFRS in 2009 on behalf of Piron Corporation to support multinational companies to train their employees on IFRS, the source of development of Ind AS, along with sharing insights on differences with accounting standards in India.

The date of Ind AS implantation was postponed and finally it was implemented in phases beginning 1 April 2016 with the first Ind AS complied balance sheet getting published on 31 March 2017.

As of today, all the list entities and all unlisted entities above 250 crores except Banks & Insurance companies, prepare their financial statements on basis of Ind AS.

During this period of Ind AS implementation in India, ACCA Amit Kumar travelled the length and breadth of the country to support in Ind AS implementation, training professionals on IFRS & Ind AS and transfer knowledge to employees and provide consulting services to listed and unlisted entities meeting the Ind AS implementation criteria in phases.

During this peak season of learning & implementing Ind AS in India, he served Axis Risk Consulting (Audit & Accounts Support Group), KPMG (Accounting Advisory Services), TMF Group (Corporate Accounting & Taxation) and was last designated as Director, BDO India (Accounting Advisory Services) & Head, Learning Solutions, PAN India to serve corporate teams across India to gear up with the knowledge of IFRS/Ind AS.

He is also author of a book on Ind AS published in 2017 to help CA Final students & professionals to learn Ind AS with confidence known as “Ind AS Concepts in One Day”

The knowledge gained in 2007, changed the way of accounting in corporate in India, opening doors of opportunities for him to serve the corporate world in the last decade.

Life is again taking a big turn for him, with ICAI, changing the syllabus of CA Final Financial Reporting in line with full Ind AS from May 2020 onwards in line with IFRS.

What do you think? Does this announcement have anything to do with the person who has been training chartered accountants in the country to prepare them for implementing Ind AS in India?

Can a corporate trainer, who has learnt IFRS/Ind AS in depth and have trained thousands of accounting professionals in the last decade, be able to teach aspirants of chartered accountancy in India for their CA Final Financial Reporting paper based on Ind AS.?

We would like to introduce ACCA Amit Kumar, Founder & CEO of Pramisha Business School to share with you, the overview of CA Final Financial Reporting paper based on Ind AS.

He is sharing the overview of CA Final course FR paper, a brief introduction about himself, the contents & syllabus of the paper and how he plans to make it easy for learners, delivering and sharing the deep insights on it.

Browse the full video for detailed information on Financial Reporting from here –

Gear up to learn through the eyes of, one of the most experienced Ind AS trainer in India gained over a period of 12 years within 120 hours, through his crystallised and detailed knowledge, gaining more in less time.

All the best wishes!

To Upgrade your Knowledge, visit our Blog Section and read more topics.

Takshila Learning is providing CA ONLINE CLASSES and IFRS Online Classes to assist you in your preparation for these professional courses right from your home. You can access our online courses from any device, at anytime and from anywhere.