Wednesday, March 23, 2016

Indian Accounting Standards

The Accounting Standards Board of the Institute of Chartered Accountants of India has so far issued the following Accounting Standards:



AS-1 - Disclosure of Accounting Policies
AS-2 - Valuation of Inventories
AS-3 - Cash Flow Statement
AS-4 - Contingencies and Events Occurring after the Balance Sheet Date
AS-5 - Net profit of loss for the period, Prior Period items and changes in Accounting policies
AS-6 - Depreciation accounting
AS-7 - Accounting for construction contracts
AS-8 - Accounting for Research and Development
AS-9 - Revenue recognition
AS-10 - Accounting for fixed assets
AS-11 - Accounting for the effects of changes in Foreign Exchange Rates
AS-12 - Accounting for government grants
AS-13 - Accounting for investments
AS-14 - Accounting for Amalgamations
AS-15 - Accounting for retirement benefits in the financial statements of employers
AS-16 - Borrowing costs
AS-17 - Segment Reporting
AS-18 - Related party Disclosures
AS-19 - Leases
Note: - More Accounting standards are under finalization. 

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