Indian Accounting Standards

IND AS 36 Impairment of Assets, Check Summary of IND AS 36 Impairment of Assets. The objective of Ind AS 36 is to prescribe the procedures that an entity applies to ensure that its assets are carried at no more than their recoverable…

IndAS 23 Borrowing Costs: Definition, Scope, Treatment, Disclosure: It is quite common where an entity borrow funds for meeting its various business needs like acquisition of building, day to day operations etc. On such borrowed funds an…

List of Ind AS Notified by MCA - Indian Accounting Standards. Ministry of corporate affairs issued list of Indian Accounting Standards (IndAS), Here we are providing complete list of IndAS notified by MCA. Indian Accounting…

Ind AS 7 Statement of Cash Flows - Ind AS 7 prescribes principles and guidance on preparation and presentation of cash flows of an entity from operating, investing and financing activities for a reporting period. The objective of Ind AS 7…

Ind AS 8 : Accounting policies, estimates and correction of errors play a major role in the presentation of financial statements. That is why Ind AS 1 states that an entity cannot rectify inappropriate accounting policies either by…

IndAS 10 Event Occurring After the Reporting Period. The Standard requires that an entity should not prepare its financial statements on a going concern basis if events after the reporting period indicate that the going concern assumption…

IndAS 1: Presentation of Financial Statement, In India Presentation of Financial Statement is always governed by Companies Act instead of Accounting Standard. Earlier there is Schedule VI, now Schedule III is there for…

The objective of the IndAS 106 is to specify the financial reporting for the exploration for and evaluation of mineral resources. The exploration and evaluation expenditures are expenditures incurred by an entity in connection with the…