AS-1
Disclosure of Accounting Policies.
Fundamental Accounting
Assumptions.
Disclosure of significant accounting
policies
AS-2
Valuation of inventories.
Principles of Valuation of Inventories, as per
Cost or NRV, whichever is lower.
AS-3
Changes in Financial
Position/Cash flow statement.
Classification & disclosure of Cash
Flows into Operating Investing and
Financing Activities
AS-4
Contingencies and events occurring
after the Balance sheet date.
Treatment of Adjusting and Non-
Adjusting Events in Financial
Statements & Reports.
AS-5
Prior period and extraordinary items
and changes in accounting policies.
Disclosure of Net Profit/Loss for the period.
Meaning and treatment of Prior Period Items
and Extraordinary Items.
Disclosure of changes in Accounting Policies
and Accounting Estimates.
AS-6
Depreciation accounting.
Factors determining Depreciation.
Principles relating to Depreciation,
change in method of depreciation,
etc.
AS-7
Accounting for construction contracts.
Segmenting and Combining
Contracts.
Recognition of Contract Revenue
and Contract Expenses/Losses on
Contract.
AS-8
Accounting for research and
development.
Accounting for research and
development.
AS-9
Revenue recognition.
Recognition of Revenue from Sale of
Goods, Rendering of Services, Use of
Resources.
Effect of uncertainty on Revenue
Recognition.
AS-10
Accounting for fixed assets.
Determination of Historical Cost and
Carrying Amount of Fixed Assets.
Revaluation of FA, & Adjustments to
cost.
Retirement/Disposal of Fixed Assets,
and treatment of Gain/Loss thereon.
AS-11
Accounting for the effects of
changes in foreign exchange rates.
Principles of conversion of foreign
currency items into reporting
currency.
Adjustment of Gain/Loss in P&L A/C.
Treatment of Integral and Non-
Integral Foreign Operations,
Forward Contracts.
AS-12
Accounting for Governments grants.
Accounting for Capital and Revenue
Grants, treatment of refund thereof,
etc.
AS-13
Accounting for Investments.
Classification of Investments.
Cost and Carrying Amount of
Investments.
Disposal of Investments, and
treatment of Gain/Loss thereon.
AS-14
Accounting for Amalgamations.
Treatment of amalgamation in the
nature of merger or in the nature of
purchase.
AS-15
Accounting for Retirement
Benefits in the Financial
Statements of Employees
Treatment of Short-Term Employee
Benefits, Defined Contribution Plans,
Defined Benefit Plans, Other Long-
Term Employee Benefits,&
Retirement Benefits.
AS-16
Capitalization of Barrowing
costs
Conditions for capitalization of
Interest Cost.
Situations for treating Interest as
Expense.
AS-17
Segment Reporting.
Business & Geographical Segments.
Reporting of segment-wise Assets,
Liabilities, Revenue and Expense.
AS-18
Related Party Disclosure.
Identification of Related Parties, and
disclosure of transactions &
relationships.
AS-19
Leases.
• Treatment of Operating and Finance Lease in
the books of Lessor and Lessee
AS-20
Earnings Per Share.
Disclosure of Basic and diluted EPS.
Treatment of Bonus, Rights Issues, etc
AS-21
Consolidated Financial Statements.
Principles of Consolidated Fin.
Statements for Holding Company &
Subsidiaries.
AS-22
Accounting for Taxes on Income.
Recognition of Tax Expense in P&L
A/C.
Treatment of Deferred Tax
Asset/Liability.
AS-23
Accounting for Investment in
Consolidated Financial Statements.
Accounting for Investment in
Associates in Consolidated Financial
Statements – Equity Method,
Exceptions thereto, etc.
AS-24
Discontinuing Operations.
Methods of discontinuance, initial
disclosure event, recognition and
measurement.
AS25
Interim Financial Reporting.
Contents of Interim Financial
Report.
Determination of Interim Profit.
Explanatory Notes in Interim Fin.
Stmts.
AS-26
Intangible Assets.
Recognition criteria for Intangible
Asset.
Measurement of Cost ,subsequent
expense, Asset vs Expense,
Amortization Principles
AS-27
Financial Reporting of Interests
in Joint Ventures.
Treatment in respect of Jointly
Controlled Operations, Jointly
Controlled Assets and Jointly
Controlled Entities.
AS-28
Impairment of Assets.
Meaning, recognition and
measurement of Impairment Loss.
Carrying Amount & Recoverable
Amount.
Treatment of Goodwill for a Cash
Gen. Unit.
AS-29
Provisions Contingent Liabilities
and Contingent Assets.
Recognition Criteria & Measurement
Principles for Provisions.
Treatment of Contingent Liabilities.
AS-30
Financial Instruments (Recognition).
Financial Instruments -
Recognition and Measurement
AS-31
Financial Instruments (Presentation).
Financial Instruments – Presentation
AS-32
Financial Instruments (Disclosure).
Financial Instruments – Disclosure