Accounting Standards (AS) 26 Intangible Assets prescribe the accounting treatment for intangible assets that are not dealt with specifically in another Accounting Standard. This Standard requires an enterprise to recognise an intangible asset if, and only if, certain criteria are met. The Standard also specifies how to measure the carrying amount of intangible assets and requires certain disclosures about intangible assets.
Accounting Standards (AS) 25 Interim Financial Reporting prescribe the minimum content of an interim financial report and to prescribe the principles for recognition and measurement in a complete or condensed financial statements for an interim period.
Accounting Standards (AS) 24 Discontinuing Operations establish principles for reporting information about discontinuing operations, thereby enhancing the ability of users of financial statements to make projections of an enterprise’s cash flows, earnings-generating capacity, and financial position by segregating information about discontinuing operations from information about continuing operations.
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.
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 they relate.
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.
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.
Accounting Standard (AS) 19 – Leases prescribe, for lessees and lessors, the appropriate accounting policies and disclosures in relation to finance leases and operating leases.
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 by a holding company.
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:
