Verify Account

UNIT-I

INTRODUCTION

Introduction to Accounting Standards – Objectives of Accounting Standards – Benefits and Limitations

of Accounting Standards – Process of Formulation of Accounting Standards in India – List of Accounting

Standards in India (AS) – Need for Convergence Towards Global Standards – International Financial Reporting Standards as Global Standards – Benefits of Convergence with IFRS – Applicability of Accounting Standards in India.

UNIT-II

AS 1, 2, 3, 4, 5, 7 and 9

AS-1: Disclosure of Accounting Policies – AS-2: Valuation of Inventories – AS-3: Cash Flow Statement– AS-4: Contingencies and Events Occurring after Balance Sheet Date – AS-5: Net Profit / Loss for the Period, Prior Period, Extraordinary Items and Changes in Accounting Policies – AS-7: Accounting for Construction Contracts – AS-9: Revenue Recognition (Including Simple Problems).

UNIT-III

AS-10, 11, 12, 13, 14, 16 and 17

AS-10: Property Plant and Equipment – 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-16: Accounting for Borrowing Costs - AS-17: Segment

Reporting (Including Simple Problems).

UNIT-IV

AS-18, 19, 20, 22, 24, 26 and 29

AS-18: Related Party Disclosures – AS-19: Accounting for Leases – AS-20: Earnings Per Share – AS-22:

Accounting for Taxes on Income – AS-24: Discontinuing Operations – AS-26: Accounting for Intangibles

– AS-29: Provisions, Contingent Liabilities and Contingent Assets (Including Simple Problems).

UNIT - V

Introduction of IND AS

Introduction - Development in Ind AS – List of Ind AS – Significance of Ind AS – Carve outs/ins in Ind AS – AS Vs. Ind AS - Roadmap for Implementation of Ind AS.