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How many accounting standards in india
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Answer Posted / mohammad reza razdar
As indicated earlier, Accounting Standards are formulated
on the basis of the International
Financial Reporting Standards (IFRSs)/ International
Accounting Standards (IASs) issued by the
IASB. Of the 41 IASs issued so far, 29 are at present in
force, the remaining standards have
been withdrawn. Apart from this, 8 IFRSs have also been
issued by the IASB. Corresponding to
the IASs/IFRSs, so far, 30 Indian Accounting Standards on
the following subjects have been
issued:
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AS 8 Accounting for Research and Development (Withdrawn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 ? | 72 Yes | 31 No |
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