"24 June 2021" Archive - Page 5

AS 23 – Accounting for Investments in Associates in Consolidated Financial Statements

Accounting Standards (AS) 23 Accounting for Investments in Associates in Consolidated Financial Statements set out principles and procedures for recognising, in the consolidated financial statements, the effects of the investments in associates on the financial position and operating results of a group....

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Posted Under: CA, CS, CMA |

AS 22 – Accounting for Taxes on Income

Accounting Standard (AS) 22 Accounting for Taxes on Income prescribe accounting treatment for taxes on income. Taxes on income is one of the significant items in the statement of profit and loss of an enterprise. In accordance with the matching concept, taxes on income are accrued in the same period as the revenue and expenses to which th...

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Posted Under: CA, CS, CMA |

AS 21 – Consolidated Financial Statements

Accounting Standards (AS) 21- Consolidated Financial Statements lay down principles and procedures for preparation and presentation of consolidated financial statements. Consolidated financial statements are presented by a parent (also known as holding enterprise) to provide financial information about the economic activities of its group...

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Posted Under: CA, CS, CMA |

AS 20 – Earnings Per Share 

Accounting Standards (AS) 20 Earnings Per Share prescribe principles for the determination and presentation of earnings per share which will improve comparison of performance among different enterprises for the same period and among different accounting periods for the same enterprise....

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Posted Under: CA, CS, CMA |

Accounting Standard (AS) 19 – Leases

Accounting Standard (AS) 19 – Leases prescribe, for lessees and lessors, the appropriate accounting policies and disclosures in relation to finance leases and operating leases....

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Posted Under: CA, CS, CMA |

AS 18 – Related Party Disclosures

Accounting Standards (AS) 18 - Related Party Disclosures should be applied in reporting related party relationships and transactions between a reporting enterprise and its related parties. The requirements of this Standard apply to the financial statements of each reporting enterprise as also to consolidated financial statements presented...

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Posted Under: CA, CS, CMA |

AS 17 Segment Reporting

Accounting Standard (AS) 17 Segment Reporting establish principles for reporting financial information, about the different types of products and services an enterprise produces and the different geographical areas in which it operates. Such information helps users of financial statements:...

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Posted Under: CA, CS, CMA |

AS 16 – Borrowing Costs

Accounting Standards AS 16 Borrowing Costs prescribe the accounting treatment for borrowing costs. This Standard should be applied in accounting for borrowing costs. This Standard does not deal with the actual or imputed cost of owners’ equity, including preference share capital not classified as a liability....

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Posted Under: CA, CS, CMA |

Accounting Standard (AS) 15 – Employee Benefits

Accounting Standards (AS) 15 Employee Benefits prescribe the accounting and disclosure for employee benefits. The Standard requires an enterprise to recognise: (a) a liability when an employee has provided service in exchange for employee benefits to be paid in the future; and (b) an expense when the enterprise consumes the economic benef...

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Posted Under: CA, CS, CMA |

AS 14 – Accounting for Amalgamations

Accounting Standards (AS) 14 Accounting for Amalgamations deals with accounting for amalgamations and the treatment of any resultant goodwill or reserves. This Standard is directed principally to companies although some of its requirements also apply to financial statements of other enterprises....

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Posted Under: CA, CS, CMA |

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