Accounting treatment of financial instruments is a highly complex subject Efficient handing of this subject requires in-depth knowledge of the intricacies of various financial products, accounting standards and practices relating to such products and tax laws governing these products. Mr R. Venkata Subramani, being a professional Chartered Accountant of long standing, has brought in his expert knowledge of the subject in writing the book ‘Accounting for Investments’.
The book adequately covers the Indian and international accounting standards – both US GAAP and IFRS – in so far as they relate to financial instruments. This is extremely important in view of the ensuing convergence between Indian accounting standards with IFRS.
In this book, the author has attempted to explain the subject in lucid language with ample illustrations and real-life problems with solutions. The book also adequately covers a number of equity products including futures and options etc.
I must congratulate Mr. Subramani for coming out with this invaluable and painstaking work. I am sure, the book will be immensely useful as a ‘hand book’ and ready reference on financial instruments for both students and professionals in the financial world.
(Manas S Ray)
Brief profile of Mr. Manas Ray, Executive Director, SEBI.
Mr. Manas Ray is Executive Director of the Securities and Exchange Board of India (SEBI), where he is heading the ‘Market Regulation Department’ ‘Market Intermediaries Regulation and Supervision Department’ and ‘Derivatives and New Products Department’. He is a member of the International Organisation of Securities Commissions (IOSCO)’s ‘Standing Committee on Secondary Market’ and International Standards Organisation (ISO)’s ‘Association of National Numbering Agencies’ (ANNA). Mr. Ray has been a member of the ‘Inter-Departmental Committee’ appointed by the Ministry of Finance for examination of India – Mauritius Double Taxation Avoidance Agreement. He is also SEBI’s co-ordinator for the ‘High Level Consultative Committee on Financial Markets’ and is SEBI’s representative at ‘RBI-SEBI Standing Technical Committee’. He heads the ‘RBI-SEBI Standing Committee on Exchange – traded Currency Derivatives and Interest Rate Futures’. He is also a member of the Governing Council of the Indian Institute of Capital Markets, Mumbai.
Mr. Ray holds a post-graduate degree in Political Science from the University of Delhi in addition to a degree in Law and Post-graduate Diploma in Securities Law.
Mr. Ray belongs to the Indian Revenue Service where he holds the rank of Commissioner of Income-tax.