International Accounting Standards
International Accounting Corresponding
Standards Nos. Title Indian GAAP
IAS 1 Presentation of Financial Statements AS-1
IAS 2 Inventories AS-2
IAS 7 Cashflow Statements AS-3
IAS 8 Accounting policies, changes in accounting AS-5
estimates and errors
IAS 10 Events after the Balance Sheet date AS-4
IAS 11 Construction Contracts AS-7
IAS 12 Income Taxes AS-22
IAS 16 Property, Plant and Equipment AS-10&6
IAS 17 Lease AS-19
IAS 18 Revenue AS-9
IAS 19 Employees Benefits AS-15
IAS 20 Government Grants AS-12
IAS 21 Accounting for Foreign Exchange AS-11
IAS 23 Borrowing Cost AS-16
IAS 24 Related Party Disclosures AS-18
IAS 26 Retirement Benefit Plans ---
IAS 27 Consolidation of Financials AS-21
IAS 28 Investment in associates AS-23
IAS 29 Financial Reporting on Hyper Inflationary
Economics ---
IAS 31 Interest in Joint Ventures AS-27
IAS 32 Financial Instruments : Presentation AS-31
IAS 33 EPS AS-20
IAS 34 Interim Financial Reporting AS-25
IAS 36 Impairment of Assets AS-28
IAS 37 Provisions, Contingent liabilties and
Contingent Assets AS-4
IAS 38 Intangible Assets AS-26
IAS 39 Financial Instruments : Recognition and
Measurement AS-30
IAS 40 Investment Property AS-13
IAS 41 Agriculture ---
International Financial Reporting Standards :
IFRS no. Title Corresponding Indian
GAAP
IFRS-1 First time adoptation of IFRS Not Relevant
IFRS-2 Share Based Payments -----
IFRS-3 Business Combination AS-14
IFRS-4 Insurance Contracts ----
IFRS-5 Non-current Assets held for sale AS-24
and discontinyed operations
IFRS-6 Exploration for and evaluation of mineral
resources ----
IFRS-7 Financial Instruments: disclosures AS-32
IFRS-8 Operating segments AS-17
IFRS-9 Financial Instruments: Recognition and AS-30
and measurement
Sources :
1) Accounting Standards (D.S.Rawat)
2) THE CHARTERED ACCOUNTANTS JOURNAL
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