The Conceptual Framework

• Objectives of Financial Reporting
• Characteristics and Limitations of a Financial Report

Accounting Standard-1, Disclosure of Accounting Policies

• Indian GAAP on Disclosure of Accounting Policies

 Accounting Standard-2, Valuation of Inventories

• Inventories as Assets

Accounting, Standard-3, Cash Flow Statement

• Objective
• Presentation of a Cash Flow Statement

Accounting Standard-4, Contingencies and Events Occurring

• Accounting for Events Occurring After the Balance Sheet Date Under AS-4
• Disclosure

Accounting Standard-5, Net Profit or Loss for the Period

Presentation of Income Statement under AS-5

Accounting Standard-6, Depreciation

• Accounting for Depreciation Under AS-6
• Depreciation
• Methods of Depreciation
• Change in Method of Depreciation

Accounting Standard-7, Construction Contracts

• Accounting for Construction Contracts under AS-7
• Terms Used in AS-7
• Combining and Segmenting Construction Contracts
• Contract Revenue
• Contract Costs
• Recognition of Contract Revenue and Expenses

Accounting Standard-9, Revenue Recognition

• Accounting for Revenue under AS-9
• Sale of Goods
• Interest, Royalties and Dividends
• Effect of Uncertainties on Revenue Recognition
• Disclosure

 Accounting Standard-10, Accounting for Fixed Assets

• Identifying Fixed Assets
• Components of Cost
• Self-constructed Fixed Assets
• Non-monetary Consideration
• Improvements and Repairs
• Retirements and Disposals (derecognition)
• Hire Purchases
• Joint Ownership
• Goodwill
• Disclosure

Accounting Standard-11, Changes in Foreign Exchange Rates

• AS-11
• Classification of Foreign Operations as Integral or Non-integral
• Change in the Classification of a Foreign Operation
• Disclosure

Accounting Standard-12, Accounting for Government Grants

• Accounting for Government Grants Under the Indian GAAP (AS-12)
• Accounting Treatment of Government Grants
• Recognition of Government Grants
• Non-monetary Government Grants
• Presentation of Grants Related to Revenue
• Presentation of Grants of the nature of Promoters' contribution
• Refund of Government Grants
• Disclosure

 Accounting Standard-13, Accounting for Investments

• Accounting for Investments under Indian GAAP
• Forms of Investments
• Cost of Investments
• Investment Properties
• Disposal of Investments

 Accounting Standard-14, Accounting for Amalgamations

• Accounting for Amalgamation under the Indian GAAP (AS-14)
• Types of Amalgamations
• Methods of Accounting for Amalgamations
• Treatment of Reserves of the Transferor Company on Amalgamation
• Disclosures

Accounting Standard-15, Employee Benefits

• Accounting for Employee Benefits
• Short-term Employee Benefits
• Termination Benefits
• Accounting Treatment
• Disclosures

 Accounting Standard-16, Borrowing Costs

• Accounting for Borrowing Cost in AS-16
• Borrowing Costs
• A Qualifying Asset
• Borrowing Costs Eligible for Capitalisation
• Commencement of Capitalisation
• Disclosure

Accounting Standard-17, Segment Reporting

• Segment Reporting Under AS-17
• Accounting Standards Interpretation (ASI 22)
• Allocation
• Primary and Secondary Segment Reporting Formats
• Matrix Presentation
• Business and Geographical Segments
• Identifying Reportable Segments (Quantitative Thresholds)
• Segment Accounting Policies
• Primary Reporting Format
• Secondary Segment Information
• Disclosures

Accounting Standard-18, Related Party Disclosures

• Related Party Disclosures
• Accounting Standards Interpretation (ASI)21
• The Related Party Issue
• Disclosure

Accounting Standard-19, Accounting for Leases

• Accounting for Lease
• Classification of Leases
• Leases in the Financial Statements of Lessees
• Leases in the Financial Statements of Lessors
• Sale and Leaseback Transactions

Accounting Standard-20, Earnings Per Share

• Presentation and Calculation of EPS
• Basic Earnings per Share
• Diluted Earnings Per Share
• Presentation

Accounting Standard-21, Consolidated Financial Statements

• Consolidation Principles under AS-21
• Circumstances for Consolidated Financial Statements
• Loss of Control
• Consolidation Procedures
• Cost of Control
• Minority Interest
• Other Points
• Disposal of Holding
• Disclosure

Accounting Standard-22 Accounting for Taxes on Income

• Income Taxes Under AS-22
• Recognition
• Measurement
• Review of Deferred Tax Assets
• Disclosure
• Relevant Accounting Standards Interpretations

Accounting Standard-23, Accounting for Investments in Associates in Consolidated

• Accounting for Investment in Associates
• Associates Accounted for Using the Equity Method
• Contingencies
• Disclosure
• Relevant Accounting Standards Interpretations

Accounting Standard-24, Discounting Operations

• Accounting for Discontinuing Operations under AS-24
• Discontinuing Operation
• Initial Disclosure Event
• Recognition and Measurement

Accounting Standard-25, Interim Financial Reporting

• Interim Financial Reporting
• Selected Explanatory Notes
• Periods for which Interim Financial Statements are required to be presented
• Materiality
• Disclosure in Annual Financial Statements
• Accounting Policies
• Revenue Received Seasonally or Occasionally
• Accounting Standards Interpretation (ASI 27): Applicability

Accounting Standard-26, Accounting for Intangible Assets

• Accounting for Intangible Assets in AS-26
• Intangible Assets
• Recognition and Initial Measurement of an Intangible Asset
• Separate Acquisition
• Internally Generated Intangible Assets
• Cost of an Internally Generated Intangible Asset
• Items to be Recognised as an Expense
• Amortisation Period
• Retirements and Disposals
• Disclosure

Accounting Standard-27, Financial Reporting of Interests in Joint Ventures

• Accounting for Joint Ventures
• Contractual Arrangement
• Forms of Joint Ventures
• Consolidated Financial Statements of A Venturer
• Transactions between a Venturer and Joint Venture
• Disclosures

Accounting Standard-28, Impairment of Assets

• Accounting for Impairment Loss under AS-28
• Assessment
• Measurement of Recoverable Amount
• Basis for Estimates of Future Cash Flows
• Composition of Estimates of Future Cash Flows
• Recognition and Measurement of an Impairment Loss
• Identification of the Cash-Generating Unit
• Goodwill
• Corporate Assets
• Impairment Loss for a Cash-Generating Unit
• Disclosure

Accounting Standard-29, Provisions, Contingent Liabilities, and Contingent Assets

• AS-29 Provisions, Contingent Liabilities, and Contingent Assets
• Provisions
• Present Obligation
• Reliable Estimate of the Obligation
• Contingent Liabilities
• Contingent Assets
• Future Events
• Expected Disposal of Assets
• Reimbursements
• Changes in Provisions
• Application of the Recognition And Measurement Rules

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