Accounting Standards (AS)

Accounting Standards (AS) contains the updated Accounting Standards Rules, 2021, notified under the Companies Act, 2013, [enforced with effect from 01-04-2021].

The Present Publication is the July 2023 Edition, updated till 18^th July 2023. This book is edited by Taxmann’s Editorial Board, with the following noteworthy features:

• [Text of New Accounting Standard Rules, 2021] notified under Companies Act, 2013 (Enforced w.e.f. 1-4-2021)
• [Detailed Guide on Exemptions/Relaxations] in Accounting Standards for Small and Medium Companies (SMCs)
• [Complete Checklist] on the applicability of Accounting Standards for SMCs and Non-SMCs

The contents of the book are as follows:

• Arrangement of Rules
  • Short Title and Commencement
  • Definitions
  • Accounting Standards
  • Obligation to Comply with Accounting Standards
  • Qualification for Exemption or Relaxation in respect of SMC
• General Instructions
• Accounting Standards
  • Accounting Standard (AS) 1: Disclosure of AccountingPolicies
  • Accounting Standard (AS) 2: Valuation of Inventories
  • Accounting Standard (AS) 3: Cash Flow Statements
  • Accounting Standard (AS) 4: Contingencies and Events occurring after the Balance Sheet Date
  • Accounting Standard (AS) 5: Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
  • Accounting Standard (AS) 7: Construction Contracts
  • Accounting Standard (AS) 9:  Revenue Recognition
  • Accounting Standard (AS) 10:  Property, Plant and Equipment
  • Accounting Standard (AS) 11:  The Effects of Changes in Foreign Exchange Rates
  • Accounting Standard (AS) 12: Accounting for Government Grants
  • Accounting Standard (AS) 13: Accounting for Investments
  • Accounting Standard (AS) 14: Accounting for Amalgamations
  • Accounting Standard (AS) 15: Employee Benefits
  • Accounting Standard (AS) 16: Borrowing Costs
  • Accounting Standard (AS) 17: Segment Reporting
  • Accounting Standard (AS) 18: Related Party Disclosures
  • Accounting Standard (AS) 19: Leases
  • Accounting Standard (AS) 20: Earnings Per Share
  • Accounting Standard (AS) 21: Consolidated Financial Statements
  • Accounting Standard (AS) 22: Accounting for Taxes on Income
  • Accounting Standard (AS) 23: Accounting for Investments in Associates in Consolidated Financial Statements
  • Accounting Standard (AS) 24: Discontinuing Operations
  • Accounting Standard (AS) 25: Interim Financial Reporting
  • Accounting Standard (AS) 26: Intangible Assets
  • Accounting Standard (AS) 27: Financial Reporting of Interests in Joint Ventures
  • Accounting Standard (AS) 28: Impairment of Assets
  • Accounting Standard (AS) 29: Provisions, Contingent Liabilities and Contingent Assets