Anda di halaman 1dari 12

Accounting standards are written statements

consisting of rules and guidelines, issued by the

accounting institutions, for the preparation of
uniform and consistent financial statements.

Accounting Standards lay down the terms and

conditions of accounting policies and practices by
way of codes and guidelines
Indian accounting standards were issued under the
supervision and control of Accounting Standard
Board(ASB), in April 1977. ASB is a committee
under Institute of Chartered Accountants of India
(ICAI) which performs the function of preparation of
accounting standards in India. The ASB comprises of
representatives from industries, government
departments such as Central Board of Direct Taxes,
the Comptroller & Auditor General as well as
representatives from ASSOCHAM , CII, FICCI, etc.
 Standardise the diverse accounting policies.
 Eradicate baffling variations in the treatment of
accounting aspects.
 Harmonize diverse accounting policies to facilitate
intra-firm and inter-firm comparison.
 Bring about uniformity, rationalisation and
adaptability in financial statements; thus making
them more reliable.
AS 1 Disclosure of Accounting Policies

AS 2 Valuation of Inventories

AS 3 Cash Flow Statements

AS 4 Contingencies and Events Occurring after the

Balance Sheet Date
AS 5 Net Profit or Loss for the period, Prior period
items and changes in Accounting Policies

AS 6 Depreciation Accounting

AS 7 Construction Contracts

AS 8 Revenue recognition

AS 9 Accounting for fixed assets

AS 10 The Effects of changes in Foreign Exchange

AS 11 Accounting for Government grants

AS 12 Accounting for Investments

AS 13 Accounting for Amalgamations

AS 14 Employee Benefits
AS 15 Borrowing Costs

AS 16 Segment Reporting

AS 17 Related Party Disclosures

AS 18 Leases

AS 19 Earning per share

AS 20 Consolidated financial statements

AS 21 Accounting for taxes on income

AS 22 Accounting for investments in Associates of

Consolidated Financial Statements

AS 23 Discontinuing Operations

AS 24 Interim Financial Reporting

AS 25 Intangible Assets
AS 26 Financial Reporting of Interest in Joint

AS 27 Impairment of Assets

AS 28 Provisions, Contingent Liabilities and

Contingent Assets
AS 30 Financial Instruments : Recognition and

AS 31 Financial instruments: Presentation

AS 31 Financial Instruments: Disclosures, and

limited revision to (AS) 19, Leases