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Description
In a blend of detailed analysis, comprehensive coverage and common sense, this book takes us through the intricate web of Accounting Standards 1 - 32
The coverage embraces examples and diagrammatic presentation, to facilitate quick grasp and easy comprehension of the topics
The book includes among others:
• A flowchart summary of each Accounting Standard
• Comparative study with IFRS
• Reference to relevant supplementary material such as Guidance Notes
• ICAI’s Clarifications/Interpretations on Accounting Standards
• Glossary and import terms
• Companies Accounting Standards Rules 2006
New features
• Unique analysis of Annual Report has been given for a practical flair and to add
clarity to the understanding
• All the issues, opinions and “frequently asked questions” on compliance with
Accounting Standards have been suitably incorporated at relevant places.
• All questions relevant to a particular Accounting Standard has been
incorporated subsequent to that Standard so as to ensure detailed understanding
of that Standard
Cases/Practical Problems
The book comprises of storehouse of questions with probable answers (400 Cases & Short Questions and about 90 past Examination Questions till Nov 2011 exams of CA Final) incrasing the depth of understanding and touching upon the nuances of the Standards.
The cases cover many of the Export Advisory Committee Opinions and FAQs addressed by the ICAI.
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Contents
Segment - A
Applicability, Exemption and Relaxations
Background
Introduction to IFRS
AS-1 - Disclosure of Accounting Policies
AS-2 - (R) Valuation of Inventories
AS-3 - (R) Cash flow Statements
AS-4 - Contingencies and Events Occurring after Balance Sheet Date
AS-5 - (R) Net Profit or Loss for the Period, Prior Period items and Changes in
Accounting Policies
AS-6 - (R) Depreciation Accounting
AS-7 - (R) Construction Contracts
AS-9 - Revenue Recognation
AS-10 - Accounting for Fixed Assets
AS-11 - (R) 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 (Revised 2005)
AS-16 - Borrowing Cost
AS-17 - Segment Reporting
AS-18 - Related Partly 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-30,31 & 32 - Financial Instruments
Segment - B
Extracts from Annual Report
Segment - C
Miscellaneous Problems
Solved Examination Problems
Appendix - I : List of Interpretations
Appendix-2 : Converged Accounting Standards
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