How many accounting standards in india
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Answer / sunil kumar ghiya
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AS 8 Accounting for Research and Development (Withdrawn
pursuant to
AS 26 becoming mandatory)
AS 9 Revenue Recognition
AS 10 Accounting for Fixed Assets
AS 11 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 Employee Benefits
AS 16 Borrowing Costs
AS 17 Segment Reporting
AS 18 Related Party Disclosures
AS 19 Leases
AS 20 Earnings Per Share
4
AS 21 Consolidated Financial Statements
AS 22 Accounting for Taxes on Income
AS 23 Accounting for Investments in Associates in
Consolidated Financial
Statements
AS 24 Discontinuing Operations
AS 25 Interim Financial Reporting
AS 26 Intangible Assets
AS 27 Financial Reporting of Interests in Joint Ventures
AS 28 Impairment of Assets
AS 29 Provisions, Contingent Liabilities and Contingent
Assets
AS 30 Financial Instruments: Recognition and Measurement
AS 31 Financial Instruments: Presentation
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / sanjay kumar mulia
AS1=DISCLOSURE OF ACCOUNTING POLICY
AS2=VALUATION OF INVENTORIES
AS3=CASH FLOW STATEMENT
AS4=CONTINGENCIES AND EVENT OCCURING AFTER THE BALANCE
SHEET DATE
AS5=NET PROFIT OR LOSS FOR THE PERIOD,PRIOR PERIOD ITEMS
AND CHANGES IN ACCOUNTIG POLICY
AS6=DEPRICIATION ACCOUNTING
AS7=CONSTRUCTION CONTRACTS
AS8=ACCOUNTING FOR RESEARCH AND DEVELOPMENT
AS9=REVENUE RECOGNITION
AS10=ACCOUNTING FOR FIXED ASSETS
AS11=THE EFFECTS OF CHANGES IN FORIEGN EXCHANGE RATE
AS12=ACCOUNTINF FOR GOVERMENT GRANTS
AS13=ACCOUNTING FOR INVESTEMENT
AS14=ACCOUNTING FOR AMALGAMATIONS
AS15=EMPLOYEE BENEFITS
AS16=BORROWING COST
AS17=SEGMENT REPORTING
AS18=RELATED PARTIES DISCLOSURES
AS19=LEASES
AS20=EARNING PER SHARE
AS21=CONSOLIDATED FINANCIAL STATEMENTS
AS22=ACCOUNTING FOR TAXES ON INCOME
AS23=ACCOUNTING FOR INVESTEMENTS IN ASSOCIATES IN
CONSOLIDATED FININCIAL STATEMENTS
AS24=DISCOTIUING STATEMENTS
AS25=INTRIM FINANCIAL REPORTING
AS26=INTANGIBLE ASSETS
AS27=FINANCIAL REPORTING OF INTEREST IN JOINT VENTURE
AS28=IMPAIRMENT OF ASSETS
AS29=PROVISION,CONTINGENT LIABILITIES AND CONTINGENT ASSETS
AS30=FINANCIAL INSTRUMENT:RECOGNITION AND MEASUREMENT AND
LIMITED REVISIONS TO AS2,AS11,AS21,AS23,AS26,AS27,AS28,AS29
AS31=FINANCIAL INSTRUMENTS;MEASUREMENTS
AS32=FINANCIAL INSTRUMENT:DISCLOSUR AND LIMITED REVISION
TO AS19
| Is This Answer Correct ? | 3 Yes | 1 No |
ACTUALLY ICIAI HAS ISSUED 32 ACCOUNTING STANDARDS.BUT AS-8
(R&D) HAS MERGED WITH AS-26(INTANGIBLE ASSETS).
HOW EVER PRSENTLY 29 ACCOUNTING STANDARDS HAS BEEN IN
PRACTISE.AND ALL THESE 29 STANDARDS SHOULD BE FOLLOWED BY
LEVEL-1 COMPANIES.
SO WE CAN SAY 29 STANDARDS HAVE BEEN IN PRACTISE AND TOTAL
NUMBER OF STANDRDS IS 31.........
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / dhiraj dua
there are 32 accounting standards
* AS 1
Disclosure of Accounting Principles
* AS 2
Valuation of Inventories See Note 38
*01 AS 3
Cash Flow Statements See Note 10
** AS 4
Contingencies and Events Occurring After the Balance Sheet
Date See Note 19
* AS 5
Net Profit or Loss for the Period, Prior Period Items and
Changes in Accounting Policies See Note 2
*** AS 6
Depreciation Accounting
*03 AS 7
(Revised)
Construction Contracts
*** AS 8
Accounting for Research and Development
* AS 9
Revenue Recognition
*
*** AS 10
Accounting for Fixed Assets See Note 3
*04 AS 11
(Revised 2003) The Effects Of Changes In Foreign Exchange
Rates See Notes 14, 21, 24, 37, 41
* AS 12
Accounting for Government Grants
* AS 13
Accounting for Investments See Note 11
* AS 14
Accounting for Amalgamations See Notes 8, 15
*06 AS 15
(Revised 2005) Employee Benefits [click here for related
announcement] See Notes 27, 28, 29, 30
* AS 16
Borrowing Costs
*01 AS 17
Segment Reporting See Note 5
*01 AS 18
Related Party Disclosures See Notes 7, 12
*01 AS 19
Leases See Note 42
*01 AS 20
Earnings Per Share See Notes 6, 9, 16
*01 AS 21
Consolidated Financial Statements See Notes 23, 36
*01 AS 22
Accounting for taxes on income See Notes 1, 22, 39
*01 AS 23
Accounting for Investments in Associates in Consolidated
Financial Statements See Notes 23, 35
*04 AS 24 Discontinuing Operations See Note 4
*02 AS 25 Interim Financial Reporting See Note 17
*03 AS 26 Intangible Assets See Notes 13, 20, 34
*02 AS 27 Financial Reporting of Interests in Joint
Ventures See Notes 18, 23, 33
*04 AS 28 Impairment of Assets See Notes 25, 32
*04 AS 29 Provisions, Contingent Liabilities and Contingent
Assets See Notes 26, 31
*09 AS 30 Financial Instruments: Recognition and
Measurement See Note 40
*09 AS 31 Financial Instruments: Presentation
*11 AS 32 Financial Instruments: Disclosures See Note 43
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / r d pal garg
There are 32 Accounting Standards in India out of which only
up to 29 are effective. No effective date has been announced
for AS 30,31, & 32. As 8 has been merged with AS 26 ans as
such AS 8 is no longer in force.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / sanjay kumar mulia
Accounting Standards issued by the ICAI
Withdrawal of the Announcement issued by the Council on
‘Treatment of exchange differences under Accounting Standard
(AS) 11 (revised 2003), The Effects of Changes in Foreign
Exchange Rates vis-à-vis Schedule VI to the Companies Act, 1956’
Accounting Standards (ASs)
AS 1 Disclosure of Accounting Policies
AS 2 Valuation of Inventories
AS 3 Cash Flow Statements
AS 4 Contingencies and Events Occuring 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 (revised 2002)
AS 8 Accounting for Research and Development
AS 9 Revenue Recognition
AS 10 Accounting for Fixed Assets
AS 11 The Effects of Changes in Foreign Exchange Rates
(revised 2003),
AS 12 Accounting for Government Grants
AS 13 Accounting for Investments
AS 14 Accounting for Amalgamations
AS 15 (revised 2005) Employee Benefits
Limited Revision to Accounting Standard (AS) 15, Employee
Benefits (revised 2005)
AS 15 (issued 1995)Accounting for Retirement Benefits in
the Financial Statement of Employers
AS 16 Borrowing Costs
AS 17 Segment Reporting
AS 18, Related Party Disclosures
AS 19 Leases
AS 20 Earnings Per Share
AS 21 Consolidated Financial Statements
AS 22 Accounting for Taxes on Income.
AS 23 Accounting for Investments in Associates in
Consolidated Financial Statements
AS 24 Discontinuing Operations
AS 25 Interim Financial Reporting
AS 26 Intangible Assets
AS 27 Financial Reporting of Interests in Joint Ventures
AS 28 Impairment of Assets
AS 29 Provisions,Contingent` Liabilities and Contingent Assets
AS 30 Financial Instruments: Recognition and Measurement
and Limited Revisions to AS 2, AS 11 (revised 2003), AS 21,
AS 23, AS 26, AS 27, AS 28 and AS 29
AS 31, Financial Instruments: Presentation
Accounting Standard (AS) 32, Financial Instruments:
Disclosures, and limited revision to Accounting Standard
(AS) 19, Leases
| Is This Answer Correct ? | 2 Yes | 1 No |
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