ACCOUNTING STANDARDS

BOARD
The Accounting Standards Board is an
independent body with the authority to
establishaccounting standardsfor use by
all Indian entities outside the public
sector. It serves the public interest by
establishing standards for financial
reporting by all Indian private sector
entities and by contributing to the
development of internationally accepted
financial reporting standards.
 Accounting Standards
AS 1 Disclosure of Accounting Policies
AS 2 Valuation of Inventories
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
AS 7 Construction Contracts (revised 2002)
AS 9 Revenue Recognition
AS 10 Accounting for Fixed Assets
AS 11 The Effects of Changes in Foreign Exchange Rates (revised 2003),
AS 12 Accounting for Government Grants
AS 13 Accounting for Investments
AS 14 Accounting for Amalgamations
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
 Inflation Accounting
Inflation accountingis a term describing a range
of accounting models designed to correct problems
arising fromhistorical costaccountingin the
presence of highinflationand hyperinflation. [1]
Inflation accounting is used in countries
experiencing high inflation orhyperinflation.[2]For
example, in countries experiencing hyperinflation
theInternational Accounting Standards
Boardrequires corporations to implement financial
capital maintenance in units of constant
purchasing power in terms of the monthly
published Consumer Price Index.
Human Resource Accounting

Human resource accountingis the

process of identifying and
reportinginvestmentsmade in
thehuman resourcesof an
organization that are presently
unaccounted for in the
conventionalaccountingpractices. It
is an extension of standard
accounting principles. Measuring the
value of human resources can assist
 Responsibility Accounting
Responsibility accounting is a reporting
system that compiles revenue, cost, and
profit information at the level of those
individual managers most directly responsible
for them. The intent is to provide this
information to those people most able to act
upon it, as well as to judge their performance.
Responsibility accounting is most commonly
used in an organization that distributes
responsibility down through the corporate
hierarchy.
 Green Accounting
Green accountingis a type
ofaccountingthat attempts to
factorenvironmental costsinto the financial
results of operations. It helps businesses
understand and manage the
potentialbetween traditional economics
goals and environmental goals. It also
increases the important information available
for analyzing policy issues, especially when
those vital pieces of information are often
overlooked.
 International Financial
Reporting Standards
International Financial Reporting
Standards(IFRS) are designed as a
common global language for business
affairs so that company accounts are
understandable and comparable across
international boundaries. They are the
rules to be followed by accountants to
maintain books of accounts which are
comparable, understandable, reliable and
relevant as per the users internal or
external.
 IFRS Components
IFRS financial statements consist of (IAS1.8)
aStatement of Financial Position
aStatement of Comprehensive Incomeseparate
statements comprising anIncome Statementand
separately a Statement of Comprehensive Income,
which reconciles Profit or Loss on the Income
statement to totalcomprehensive income
aStatement of Changes in Equity(SOCE)
aCash Flow StatementorStatement of Cash Flows
notes, including a summary of the significant
accounting policies
IFRS VS IAS
IFRS IAS

VALUATION OF
INVENTORIES INVENTORIES
EVENT AFTER THE BALANCE SHEET AT
BALANCE SHEET END OF THE YEAR
STATEMENT OF CASH STATEMENT OF CASH
FLOW FLOW
THANK YOU

PARITOSH SINGH
A7002016033