Accounting standards

1. ACCONTING STANDARDS
Accounting standards are written
statements of uniform accounting
rules and guidelines in practice for
preparing the uniform and consistent
financial statements .

2. Important accounting standards
As 1:disclosure of accounting
policies
As 2 : valuation of inventories
As 3 :cash flow statement
As 4:contigencies and events

3.  As 5 :Net profit or loss for the period, prior
period items and changes in accounting policies
 AS6: Depreciation accounting
 AS7: Accounting for construction contracts
 AS8:Accounting for research and development

4.  AS 9: Revenue recognition
 AS 10:Accounting for fixed asset
 AS11:Accounting for the effect of
changes in foreign exchange rate

5.  AS 12:Accounting for Government grants
 AS13:Accounting for investments
 AS 14:accounting for amalgamations
 AS 15:Accounting for retirement benefit in
the financial statement of employees

6.  AS16:Borrowing costs
 AS 17:segment reporting
 AS 18:related party disclosures
 AS 19:Leases

7. AS 20:Earning per share
AS 21: Consolidated financial statement
AS 22:Accounting for taxes on income

8. AS 23:Accounting for investments in
associates in consolidated financial
statement
AS 24:Accounting for discontinued
operations
AS 25:Interim financial reporting

9.  AS 26: Intangible assets
 AS 27:financial reporting of interests in joint
ventures
 AS 28:Impairment of asset
 AS 29:Provisions,contingent liabilities and
contingent asset

10. International Financial
Reporting Standards
International financial reporting standards
(IFRSs) are globally accepted accounting
standards developed by international
accounting standard boards(IASB)
IFRS is a set of accounting standards for
reporting different types of business
transactions and events in the financial
statements the objective is to facilitate
international comparisons for true and fair
valuation of a business enterprise.

11. CONCLUSIONS
 An accounting standard is a selected
set of accounting policies or broad
guidelines regarding the principles
and methods to be chosen out of
several alternatives.

12.  THANKS……