In today's highly dynamic business world and intense competitive environment business decisions are taken at the speed of thought. In this back drop for survival and growth corporates go through major process of change management and business structuring from time to time, because they know that unless they manage change, change beyond control will take over. Many of us, through our varied experience of various businesses, have been witness to these changes. Keeping this in view I have thought of coming up with this work wherein I have dovetailed my decades of practical experience in finance function in general and financial reporting in particular with theory and the book professes to serve as a ready reference guide for finance professionals and students in the following manner: a)Comprehend the latest updates on financial reporting as per Companies Act 2013, b)Delve into newly promulgated Indian Accounting Standards (Ind ASs) converged with International Financial Reporting Standards (IFRSs) c)Understand the existing Accounting Standards (AS) and compare the same with Ind ASs and other GAAPs, d)Explain the concepts of Financial reporting linked to Accounting Standards (both Ind ASs and ASs) with more than five hundred illustrations and case studies against each of the chapters e)Incorporate the latest guidelines related to ICDS f)Take a refresher on Guidance Notes issued by ICAI from time to time with illustrations where applicable