This book serves as a guide for students, in order to enhance their ability to integrate and solve problems in practical scenarios on Accounting Standards, Guidance Notes and Indian Accounting Standards (‘Ind AS’). It also helps the students in deciding the appropriate accounting treatment and formulation of suitable accounting policies. Lastly, this book helps the students in understanding, various forms of reporting (other than financial statements), and accounting for special transactions with a problem solving objective. (Objective of ICAI’s Syllabus for Paper 1 – Financial Reporting). The Present Publication authored by CA Parveen Sharma & CA Kapileshwar Bhalla, is the 4th Edition for New Syllabus (Updated till 31-10-2020 & amended by Companies (Ind AS) Amendment Rules 2020), with the following noteworthy features: Coverage of this book includes: o 'Financial Instruments' (Ind AS 32, 109 & 107) o 'Revenue' (Ind AS 115) o 'Leases' (Ind AS 116) o 'Business Combination' (Ind AS 103) o ‘Consolidation' (Ind AS 110,111,28 & 27) o Solved Papers with Guideline Answers: § CA (Final) – November 2020 Exam | New Syllabus § CA (Final) – November 2019 Exam | New Syllabus § CA (Final) – May 2019 Exam | New Syllabus o As per revised syllabus announced by ICAI