The BBA(FS) Department of VVM’s Shree Damodar College of Commerce & Economics organized a Guest Lecture in Fundamentals of Accounting course for First Year students on 9thAugust 2019 from 11:15 a.m. to 12.15 p.m. The topic of the lecture was ‘The Significance of Preparing Financial Statement for a Company’
CA Udhesh Verenkar, Proprietor of Udhesh V.& Associates Chartered Accountant Margao Goa was the resource person for the session. The objective of this session was to familiarize students with the importance of financial statements and the uses of IFRS.
The resource person began by outlining the International Financial Reporting Standards and the reasons for an Indian company to adopt such standards. He highlighted the impact of different accounting standards in the books of companies across various countries. He also spoke about the need for the adoption of these standards and gave many live examples of companies to substantiate his views. He clarified the different users of financial statements
The students were exposed to various insights of significance of financial statements and IFRS. The session gave students a comprehensive overview of the significance of preparing financial statements. CA Udhesh Verenkar complimented the students on their keenness to learn.
