Financial Accounting landscape has been undergoing great changes. Traditional knowledge of financial accounting is considered to be narrow. Wider dimensions are added to the paradigm of financial accounting, especially in the wake of harmonization of financial reporting standards and the resultant IFRS, Ind AS, IFRS for SMEs etc., Managers need to know the importance of effective corporate accounting governance in order to ensure transparent financial reporting. Besides, knowledge of analysis of financial statements and application of advanced spreadsheet functions is considered to be essential.
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