The global financial crisis has underlined the need for responsible corporate governance. Many of the nuances are explained in R Venkata Subramani’s latest book Accounting For Investments: Equities, Futures and Options published by John Wiley and Sons. A chartered accountant by profession, Subramani is the chief operations officer of Chennai-based Variman Capital Markets Services and is responsible for valuation and accounting, partnership allocation and accounting for companies. He has also taught at the Institute of Chartered Accountants of India and the University of Madras. Subramani in an interview to FE’s Saikat Neogi explains the changes in the accounting process after the global slowdown, credit default swaps and peer review of accounts.
The book should be a handy reference for accountants because it deals with `the entire life-cycle’ of the different financial assets, and is replete with examples that drill down to details such as journal entries, general ledger accounts, trial balance, income statement, and balance sheet. More importantly, the book aspires to fill `the knowledge gap’ between the technology people and the finance professionals, in projects concerning the specialised field of investment accounting.
Recommended addition to the CAs’ shelf.