Accounting Standards in India : At a Glance

Accounting Standards:-

Accounting Standard are the policy documents issued by the recognized accounting body relating body relating to various aspects of measurement, treatment and disclosure of accounting transactions and events.

            Following are the Accounting Standards:-

1.      The policy documents,

2.      Issued by the recognized accountancy body,

3.      Relating to various aspects of measurement, treatment and disclosure of accounting transactions and events.

Accounting Standards in India : At a Glance:-

The Council of ICAI has so far issued 32 Accounting Standards and many more are in pipelines. Following are the list of standards and their status: - 

No.	Name of the Accounting Standards	Year
AS-1	Disclosure of accounting policies	1979
AS- 2	Valuation of Inventories	1981
AS- 3	Cash-Flow Statements(Revised 1997)	1981
AS- 4	Contingencies and Events occurring after the balance Sheet date	1982
AS-5	Net Profit or Loss for the Period, Prior Period Items and Changes in accounting policies (Revised 1996)	1982
AS-6	Depreciation Accounting (Revised 1995)	1982
AS-7	Accounting for construction contract (Revised 2003)	1983
AS-8	Accounting for research and development (Non-operative 1.4.2004	19865
AS-9	Income Recognition	1985
AS-10	Accounting for Fixed Assets	19852
AS-11	Accounting for Effects of Changes in Foreign Exchange Rate	1995
AS-12	Accounting for Government Grants	1992
AS-13	Accounting for Investments	1.4.1995
AS-14	Accounting for Amalgamation	1.4.1995
AS-15	Accounting for Retirement Benefits in the financial Statements of the Employees	1.4.1995
AS-16	Borrowing Costs	1.4.2000
AS-17	Segment Reporting	1.4.2001
AS-18	Disclosure of Financial Statement of Related Company	1.4.2001
AS-19	Accounting for Lease	1.4.2001
AS-20	Earnings per Share	1.4.2001
AS-21	Consolidated Financial Statements	1.4.2001
AS-22	Accounting for Taxes on Income	1.4.2001
AS-23	Accounting for Investments in Consolidated Financial Statement	1.4.2001
AS-24	Discontinuing Operations	1.4.2002
AS-25	Interim Financial Reporting	1.4.2002
AS-26	Intangible Assets	1.4.2002
AS-27	Financial Reporting of Interests in Joint Ventures	1.4.2002
AS-28	Assets Impairment	1.4.2002
AS-29	Provisions for Contingent Liabilities and Contingent Liabilities and Contingent Assets	1.4.2002
AS-30	Financial Instruments : Recognition and Measurement	1.4.2009
AS-31	Financial Instruments : Presentation	1.4.2009
AS-32	Financial Instruments : Disclosures	1.4.2009