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1. PRESENTATIONON ACCOUNTING STANDARDS By:- AMEY JOSHI BUSHAN PATIL SONAL SAVE SMITA AVHAD KANCHAN THKUR GEETANJALI POL

2. Introduction Accountingis the art of recording transactions in the best manner possible, so as to enable the reader to arrive at judgments/come to conclusions, and in this regard it is utmost necessary that there are set guidelines. These guidelines are generally called accounting policies. Accounting Standards in India are issued By the Institute of Chartered Accountanst of India (ICAI) on 21stApril,1977 Initiated by Kumar Mangalam Birla, chairman committee of Corporate Governance for Financial Disclosures Also initiated by Chair person of NACAS (National Advisory Committee on Accounting)

4. Add the reliability to the Financial Statement

5. Eradicate baffling variation in treatment of accounting aspects

8. Measure of wearing out

10. Form of cash or kind to an enterprise in return for past or future compliance with certain conditions.

11. Government assistance, which cannot be valued reasonably, is excluded from Govt. Grants.

13. AS 2 - Valuation of Inventories Used for computation of Cost of inventories and to show in BS till it is sold Consists of :- Raw Materials Work in progress Finished goods Spares, etc Measurements of Inventories Determination of Cost of Inventories Cost of purchase (Purchase price, duties & taxes, freight inwards) Cost of conversion. Determination of Net realisablevalue Comparison of cost and net realisable.

15. Assessing market price for share

16. AS gives computational methodology for determination and presentation of EPS

18. AS 11- Effect of change in FOREX Rates Classification for Accounting treatment:- Category I: Foreign currency transactions: a) buying and selling of goods or services b) lending and borrowing in foreign currency c) Acquisition and disposition of assets Category II: Foreign operations: a) Foreign branch b) Joint venture c) Foreign Subsidiary Category III: Foreign Exchange contracts: a) For managing Risk/hedging b) For trading and Speculation

19. AS 19- Accounting for Leases Agreement between Lessor And Lessee Two types of leases: Operating lease Finance lease Different from Sale Classification to be made at the inception

20. AS 3- Cash Flow Statements Incoming and outgoing of cash Act as barometer to judge surplus and deficit Explain Cash flow under 3 heads :- Cash flow from operating activities Cash flow from financing activities Cash flow from investing activities

22. Expected to used for more than a Accounting period like land, building, P/M, etc

24. THANK YOU