The focus of financial analysis is on key figures in the financial statements and the significant relationship that exists between them. The analysis of financial statement is a process of evaluating the relationship between component parts of financial statements to obtain a better understanding of the position and performance of a firm. The first task of the financial analyst is to select the information relevant to the decision under consideration from the total information contained in the financial statements. The second step is to arrange the information in a way to highlight significant relationships. The final step is interpretation and drawing of inferences and conclusions. In brief, financial analysis is the process of selection, relation and evaluation. Keeping all this in view, the present book is devoted to an in-depth analysis of financial statements and its use for decision-making by various parties interested in them. The focus of the book is on ratio analysis which is the most widely used technique of financial statement analysis.

Social research is an academic activity to explain, analyze, and understand a problem and find solution for it. A systematic approach of collecting, organizing and analyzing the information relating to a problem is adopted in a research. Research aims at discovering new facts or verifying old ones to analyze their sequence, inter-relationship, and causal explanation to understand human behaviour. Therefore, the basic objective of social research is to understand and clarify the behaviour of man and the various forces or factors which influence him. Once the human behaviour is influenced, this affects the social institutions. In fact, in social research, the laboratory is the society and the objects are the human beings. This book explains the methodology of social research. It is divided into two parts. Part I describes the various theoretical issues related to research, while Part II is devoted to quantitative and other techniques to reach meaningful conclusions to understand and solve social problems.

Derivatives are financial instruments/contracts whose value depends upon the value of an underlying. Since their value is essentially derived out of an underlying, they are financial abstractions whose value is derived mathematically from the changes in the value of the underlying. In recent years, complex financial products -- such as asset-backed securities, derivatives, credit-default swaps (CDSs) and collateralised debt obligations (CDOs) -- have proliferated in developed countries. These products have become highly popular with banks and financial institutions as they allow them to hedge their risks and manage their financial resources more efficiently. Although various structured products have enabled the transfer of risks and enhanced the liquidity of instruments, the recent turmoil in the US sub-prime mortgage market and related developments connected with complex derivatives have also brought to the fore the risks posed by these instruments. In India, financial products such as mortgage-backed securities (MBS) and asset-backed securities (ABS) are in existence. Besides the securitised products, the Indian forex and rupee derivative markets have also developed significantly over the years. In its Annual Policy Statement for the year 2008-09, the Reserve Bank of India (RBI) announced the introduction of currency futures in the eligible exchanges for which the broad framework was announced in August 2008. This book explains, in simple and lucid language, the basics of financial derivatives and their growth and role in the Indian financial system.

The objective of accounting standards is the preparation of financial statements within the bounds of rationality, thereby ensuring comparability of financial statements of different enterprises. This, in turn, provides meaningful information to various users of financial statements to enable them to make informed economic decisions. Recognising the need for international harmonisation of accounting standards, the International Accounting Standards Committee (IASC) was established in 1973. It was later reconstituted as the International Accounting Standards Board (IASB). The objectives of IASC included promotion of the international accounting standards for worldwide acceptance and observance so that the accounting standards in different countries are harmonised. In recent years, need for international harmonisation of accounting standards followed in different countries has grown considerably as the cross-border transfers of capital are becoming increasingly common. Economic reforms initiated in India since early 1990s have led to increasing attention being devoted to accounting standards as a means towards ensuring potent and transparent financial reporting by corporates. International Financial Reporting Standards (IFRSs), issued by the International Accounting Standards Board (IASB), as the uniform language of business to protect the interests of international investors, have brought into focus the need for reforms in accounting procedures in different countries. IFRSs have been made applicable in India from the reporting year 2011 by the Ministry of Corporate Affairs for specified business entities. The new accounting norms have posed challenges for business enterprises in terms of presentation of accounts, and accounting policies and procedures. This book explains in simple language the requirements of IFRSs and the attending implementation hurdles.