About the book
The book “Treatise on Leases” has been written very scrupulously to serve as one stop shop for accounting guidance on leases across the globe. The standard on leases has been revamped and brought tremendous changes in the accounting for lessees, while the accounting for lessors remain largely unchanged. With the alignment of IFRS and US GAAP on this standard and consequential introduction of Ind AS, users could feel an emergent need for a comprehensive guide to refer for lease transactions. This book is an endeavor to cater to that need of the users across the globe.

The book comprises of accounting guidance on leases in accordance with IGAAP and Ind AS. The text of Ind AS is meant to be referred in context of IFRS as well, as there is no major difference between these two standards. To give a holistic and comprehensive view of local and global standard, a detailed comparison of Ind AS, IGAAP, IFRS and US GAAP has been given. For easy understanding various case studies and practical examples have been used, a detailed analysis of a sample lease agreement has been given in the book. In order to allow readers, test their knowledge multiplechoice questions have been incorporated and to make this book a comprehensive solution, authors have given disclosure checklists based on AS, Ind AS and IFRS. Further, for a more practical and realistic outlook, the book comprises of disclosures from published financial statements of Indian and global listed companies. The book is updated as of December 2020 and serves a wide audience ranging from CA final students to qualified CA, CS, ICWA, CFOs, finance professionals, accountants and corporates.

It is a treatise that inscribes the transfiguration of financial reporting of lease transactions in the history of accounting, giving its readers an in-depth insight on its each and every detail.

About the Authors

CA (Dr.) Alok K. Garg is a Member of Institute of Chartered Accountants of India (ICAI) and has an Honorary from by Bharath Virtual University for Peace & Education. He is currently working as a General Manager - Finance and heading Financial Reporting, Consolidation and Fixed Assets function of one of the largest listed Telecom Infrastructure Company. Having completed his graduation in B.Com (Hons.) from University of Delhi in 2004, he became a Company Secretary from Institute of Company Secretaries of India (ICSI). He is a Diploma holder in IFRS from ACCA, United Kingdom, Certified Ind AS and Certified BRSR from ICAI.

With more than 15 years experience in the field of Financial Reporting, Consolidation, Internal Controls, Fixed Assets and Auditing and associated with Indus Towers (formerly Bharti Infratel), HSBC, IL&FS and consulting firms during his professional stint, Mr. Garg is acknowledged as an expert and is therefore invited to speak at various professional events,with more than 650 lectures on IFRS, Ind AS, Accounting Standards and Auditing Standards across the country.

CA Chandni Gupta is an Associate Member of Institute of Chartered Accountants of India (ICAI), having completed her graduation in B.Com (Hons.) from University of Delhi. she is an Assistant Manager-Finance of a multi-national FMCG company. She is also Certified Ind AS and Certified BRSR from ICAI. Always a top ranker in academia right from high school to CA examinations, she secured all India ranks in CA Final and CA IPCC. With experience in Statutory Audit, IFCoFR, Tax audit of various listed and unlisted entities, Ind AS implementation on listed companies and preparation of financial statements in compliance with Ind AS, IFRS and IGAAP of various entities and possessing vast experience of business finance and financial planning and analysis, she is considered an expert. She has a passion towards disseminating knowledge on her core subject “Financial Reporting” in the form of lecture delivery, writing books, posting articles or making videos.