1. PRESENTED BY: EESHA AHUJA-3 DIPTI KADU-16 AMRUTA MULAY-30 VIBHA WANAGE- 59 AMRITHA SUVARNA-60 TANVI CHHEDA- 61

8. No. of AS TITLE of AS AS-1 Disclosure of accounting policies AS-2 Valuation of inventories AS-3 Cash flow statements AS-4 Contingencies & events occurring after B/S date AS-5 Net profit/loss for the period, prior period items & changes in accounting policies AS-6 Depreciation accounting AS-7 Construction contracts AS-8 Accounting for R&D AS-9 Revenue recognition

9. AS-10 Accounting for fixed assets AS-11 The effects of changes in foreign exchange rates AS-12 Accounting for government grants AS-13 Accounting for investments AS-14 Accounting for amalgamations AS-15 Accounting for retirement benefits in the financial statements of employers AS-16 Borrowing cost AS-17 Segment reporting AS-18 Related party disclosures AS-19 leases

10. AS-20 Earning per share AS-21 Consolidated financial statements AS-22 Accounting for taxes on income AS-23 Accounting for investments in associates in consolidated financial statements AS-24 Discontinuing operations AS-25 Interim financial reporting AS-26 Intangible assets AS-27 Financial reporting of interests in joint ventures AS-28 Impairment of assets

11. AS-29 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS AS-30 FINANCIAL INSTRUMENT AS-31 FINANCIAL INSTRUMENT PRESENTATION

12. Indian GAAP IAS US GAAP Approach “ all inclusive” “ all inclusive” “ all inclusive” Comprehensive Income NA Is applicable Is applicable Extraordinary Items Required to present separately from ordinary a/c in P&L a/c NA Is applicable same as in Indian GAAP

13. Indian GAAP IAS US GAAP Accounting Policy Refers to specific accounting principles & methodology of applying them Is similar to the Indian GAAP definition Uses the term, “ accounting principles” to refer to accounting policy Disclosures An entity is required to disclose the accounting policy at one place An entity is required to disclose the accounting policy separately The practice is same as in IAS

15. Determination of the value at which inventories are carried in the financial statements until the related revenues are recognized.

16. ( a) the accounting policies adopted in measuring inventories, including the cost formula used; and (b) the total carrying amount of inventories and its classification appropriate to the enterprise

17. This Statement deals with depreciation accounting and applies to all depreciable assets, except (i) forests, plantations. (ii) wasting asset extraction of minerals, oils, natural gas . (iii) expenditure on research and development. (iv) goodwill. (v) live stock.

18. Depreciation Depreciable assets Useful life Depreciable amount

20. Revenue is the gross inflow of cash, receivables or other consideration arising in the course of the ordinary activities of an enterprise from the sale of goods, from the rendering of services, and from the use by others of enterprise resources yielding interest, royalties and dividends.

25. Gross and the net book values of fixed assets at the beginning and end of an accounting period showing additions, disposals, acquisitions and other movements. Expenditure incurred on account of fixed assets in the course of construction or aqusition.