The idea for this book was born out of a significant gap I experienced firsthand as a CA student. At that time, there were no reference materials or textbooks of domestic origin specifically designed for Nepal Financial Reporting Standards (NFRS). The resources available to us were limited to the bare NFRS standards issued by the Accounting Standard Board (ASB). These documents, while essential, were dense and difficult to interpret, especially without the guidance of experienced tutors. Unfortunately, there were no tutors available who could teach the NFRS as comprehensively as needed. This lack of support made the learning process not only challenging but also frustrating.