IAS-10 – Events After the Balance Sheet Date : An entity shall adjust the amounts recognized in its financial statements to reflect adjusting events after the balance sheet date. Further […]
All posts by Treesha Jain - 5. page
Professional Tax Consultant and Article Writer
IAS-1 – Presentation of Financial Statements
IAS-1 – Presentation of Financial Statements The standard prescribes the minimum structure and content, including certain information required on the face of the financial statements. There are four basic financial […]
AS 30, 31, & 32 – FINANCIAL INSTRUMENTS
AS 30, 31, & 32 – FINANCIAL INSTRUMENTS : Applicability of AS 30, 31 and 32 These standards are not mandatory but earlier adoption is encouraged. It may be mentioned […]
Recognition and derecognition
Recognition and derecognition : Recognition Recognition issues for financial assets and financial liabilities tend to be straight forward. An entity recognises a financial asset or a financial liability at the […]
INTERNATIONAL ACCOUNTING STANDARDS (IAS)/ INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
INTERNATIONAL ACCOUNTING STANDARDS (IAS)/ INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) : IFRS are now becoming the global financial reporting language. The importance of IFRS has grown significantly in the recent times. […]
Non Manadatory Accounting Standards:
Non Manadatory Accounting Standards: AS 30 Financial Instruments, AS 31, Financial Instruments: Presentation and AS 32, Financial Instruments: Disclosures have yet not been notified by ministry of corporate affairs. However […]
AS-28 – Impairment of Assets
AS-28 – Impairment of Assets : The objective of this Standard is to prescribe the procedures that an enterprise applies to ensure that its assets are carried at no more […]
AS-29 – Provisions, Contingent Liabilities and Contingent Assets
AS-29 – Provisions, Contingent Liabilities and Contingent Assets : A provision is a liability, which can be measured only by using a substantial degree of estimation. A contingent liability is: […]
AS- 27 – Financial Reporting of Interests in Joint Ventures
AS- 27 – Financial Reporting of Interests in Joint Ventures : A joint venture is a contractual arrangement whereby two or more parties undertake an economic activity, which is subject […]
AS-23 – Accounting for Investments in Associates in Consolidated Financial Statements
AS-23 – Accounting for Investments in Associates in Consolidated Financial Statements : An associate is an enterprise in which the investor has significant influence and which is neither a subsidiary […]