Accounting Standards is an authoritative pronouncement of code of practice of the regulatory accountancy body to be observed and applied in the preparation and presentation of financial statements. These standards are intended to apply only to material items.
This book on Indian Accounting Standards has been prepared for students preparing for the examinations of the Institute of Chartered Accountants of India (ICAI), Institute of Cost and Works Accountants of India (ICWA), Institute of Company Secretaries of India (ICS) and B.Com. and M.Com. courses of all Indian Universities. The book attempts to explain and illustrate in the simplest language all the Accounting Standards.
Contents –
Unit-I: Introduction
1. Introduction to Accounting Standards
Unit-II: As-1, 2, 3, 4, 5, 7 and 9
2. Disclosure of Accounting Policies (As-1)
3. Valuation of Inventories (As-2)
4. Cash Flow Statements (As-3)
5. Contingencies And Events Occurring after The Balance Sheet Date (Revised) (As-4)
6. Net Profit/Loss for The Period, Prior Period, Extraordinary Items and Changes in Accounting Policies (As-5)
7. Accounting for Construction Contracts (As-7)
8. Revenue Recognition (As-9)
Unit-III: As-10, 11, 12, 13, 14, 16 and 17
9. Property, Plant and Equipment (As-10)
10. Accounting for The Effects of Changes in Foreign Exchange Rates (As-11)
11. Accounting for Government Grants (As-12)
12. Accounting for Investments (As-13)
13. Accounting for Amalgamations (As-14)
14. Accounting for Borrowing Costs (As-16)
15. Segment Reporting (As-17)
Unit-IV: As-18, 19, 20, 22, 24, 26 and 29
16. Related Party Disclosures (As-18)
17. Accounting for Leases (As-19)
18. Earnings per Share (As-20)
19. Accounting for Taxes on Income (As-22)
20. Discontinuing Operations (As-24)
21. Accounting for Intangibles (As-26)
22. Provisions, Contingent Liabilities and Contingent Assets (As-29)
Unit-V: Introduction of IND As
23. Indian Accounting Standards – An Introduction
