Importance of accounting standards ppt

ifrs vs indian accounting standards ppt and international accounting standards ppt presentation
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Dr.DinoHardy,United Arab Emirates,Teacher
Published Date:25-07-2017
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Section A Chapter 1 Unit – 3 CA.S.S.Prathap They are laws of accounts. They are issued by ICAI. Till date 32 Standards have been issued. AS is mandatory for companies. They cover all important aspect of accounts. AS – 8 is withdrawn pursuant to AS 26 becoming mandatory. Accounting standards cannot over ride the statute • Disclosure of Accounting Policies AS-1 • Valuation of Inventories AS-2(R) • Cash Flow Statements AS-3(R) • Contingencies and Events Occurring After the Balance Sheet Date AS-4(R) • Net Profit or Loss for the Period , Prior Period Items and Changes in Accounting AS-5(R) Policies • Depreciation Accounting AS-6(R) • Accounting for Construction Contracts AS-7(R) AS – 8 is withdrawn pursuant to AS 26 becoming mandatory. • Revenue Recognition AS-9 • Accounting for Fixed Assets. AS-10 • The effect of changes in Foreign Exchange Rates. AS-11(R) • Accounting for Government Grants AS-12 • Accounting For Investments AS-13 • Accounting for Amalgamations AS-14 • Employee benefits AS-15(R) • Borrowing costs AS-16 • Segment Reporting AS-17

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