What is Accounting standard ?



What is Accounting standard ?

  • An accounting standard is a common set of principles,standards and procedures that are used for financial reporting.Accounting standards specify how transactions and other events are to be recognized, measured, presented and disclosed in financial statements.
  • List of Accounting Standards (AS 1 to AS 32)
    • AS 1 - Disclosure of Accounting Policies
    • AS 2 - Valuation of Inventories (amended) *
    • 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    • AS 6 - Depreciation Accounting (withdrawn) *
    • AS 7 - Construction Contracts (revised 2002)
    • AS 8 - Accounting for Research and Development (withdrawn for AS 26)
    • AS 9 - Revenue Recognition
    • AS 10 - Accounting for Fixed Assets (amended) *
    • AS 11 - The Effects of Changes in Foreign Exchange Rates (revised 2003) ** / ***
    • AS 12 - Accounting for Government Grants
    • AS 13 - Accounting for Investments (amended) *
    • AS 14 - Accounting for Amalgamations (amended) *
    • AS 15 - Employee Benefits (revised 2005)
    • AS 16 - Borrowing Costs
    • AS 17 - Segment Reporting
    • AS 18 - Related Party Disclosures
    • AS 19 - Leases
    • AS 20 - Earnings Per Share
    • AS 21 - Consolidated Financial Statements (amended) *
    • 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 (amended) *
    • AS 30 - Financial Instruments: Recognition and Measurement
    • AS 31 - Financial Instruments: Presentation
    • AS 32 - Financial Instruments: Disclosures’stands withdrawn

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