Description
Taxmann Publication New Accounting Standards (AS) by Taxmann
New Accounting Standards (AS) contains the updated Accounting Standards issued under the Companies (Accounting Standard) Rules, 2021, with effect from 01-04-2021. It also provides an overview of all changes incorporated in the new Accounting Standards vis-à-vis the previous version; in other words, it presents a comparative study of Accounting Standard Rules 2006 & Accounting Standards Rules 2021.
The Present Publication is the Latest Edition, authored by Taxmann’s Editorial Board, updated till 24th June 2021, with the following noteworthy features:
[Text of New Accounting Standard Rules, 2021] notified under Companies (Accounting Standard) Rules, 2021 (Enforced w.e.f. 1-4-2021);
[Complete Checklist] on the applicability of Accounting Standards for Small and Medium Companies (SMCs) and Non-SMCs; and
[Detailed Guide on Exemptions/Relaxations] in Accounting Standards for SMCs
The contents of the book are as follows:
Arrangement of Rules
Short Title and Commencement
Definitions
Accounting Standards
Obligation to Comply with Accounting Standards
Qualification for Exemption or Relaxation in respect of SMC
General Instructions
Accounting Standards
Accounting Standard (AS) 1: Disclosure of Accounting Policies
Accounting Standard (AS) 2: Valuation of Inventories
Accounting Standard (AS) 3: Cash Flow Statements
Accounting Standard (AS) 4: Contingencies and Events occurring after the Balance Sheet Date
Accounting Standard (AS) 5: Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
Accounting Standard (AS) 7: Construction Contracts
Accounting Standard (AS) 9: Revenue Recognition
Accounting Standard (AS) 10: Property, Plant and Equipment
Accounting Standard (AS) 11: The Effects of Changes in Foreign Exchange Rates
Accounting Standard (AS) 12: Accounting for Government Grants
Accounting Standard (AS) 13: Accounting for Investments
Accounting Standard (AS) 14: Accounting for Amalgamations
Accounting Standard (AS) 15: Employee Benefits
Accounting Standard (AS) 16: Borrowing Costs
Accounting Standard (AS) 17: Segment Reporting
Accounting Standard (AS) 18: Related Party Disclosures
Accounting Standard (AS) 19: Leases
Accounting Standard (AS) 20: Earnings Per Share
Accounting Standard (AS) 21: Consolidated Financial Statements
Accounting Standard (AS) 22: Accounting for Taxes on Income
Accounting Standard (AS) 23: Accounting for Investments in Associates in Consolidated Financial Statements
Accounting Standard (AS) 24: Discontinuing Operations
Accounting Standard (AS) 25: Interim Financial Reporting
Accounting Standard (AS) 26: Intangible Assets
Accounting Standard (AS) 27: Financial Reporting of Interests in Joint Ventures
Accounting Standard (AS) 28: Impairment of Assets
Accounting Standard (AS) 29: Provisions, Contingent Liabilities and Contingent Assets