Indian Accounting Standards (Ind AS)

 Indian Accounting Standards (Ind AS)


Framework & Presentation


1. Ind AS 1 – Presentation of Financial Statements: Sets the structure and content of financial statements.


2. Ind AS 7 – Statement of Cash Flows: Guidelines for preparing cash flow statements.


3. Ind AS 8 – Accounting Policies, Changes in Accounting Estimates, and Errors: Specifies accounting policies and treatment of errors.


4. Ind AS 10 – Events after the Reporting Period: Defines adjustments for post-reporting date events.


5. Ind AS 34 – Interim Financial Reporting: Guidelines for interim (quarterly) financial statements.


6. Ind AS 113 – Fair Value Measurement: Standardizes fair value calculations.



Assets


7. Ind AS 2 – Inventories: Defines valuation and recognition of inventories.


8. Ind AS 16 – Property, Plant & Equipment (PPE): Covers recognition, depreciation, and derecognition of PPE.


9. Ind AS 38 – Intangible Assets: Covers goodwill, patents, and trademarks.


10. Ind AS 40 – Investment Property: Covers accounting for land/buildings held for rental income.


11. Ind AS 105 – Non-current Assets Held for Sale and Discontinued Operations: Guidelines for assets intended for disposal.


12. Ind AS 36 – Impairment of Assets: Defines impairment tests for assets.


13. Ind AS 23 – Borrowing Costs: Treatment of interest on borrowings related to asset construction.




Liabilities & Revenue


14. Ind AS 37 – Provisions, Contingent Liabilities, and Contingent Assets: Defines provisions, liabilities, and contingent gains.


15. Ind AS 19 – Employee Benefits: Covers gratuity, pensions, and employee incentives.


16. Ind AS 115 – Revenue from Contracts with Customers: Five-step model for recognizing revenue.


17. Ind AS 21 – Effects of Changes in Foreign Exchange Rates: Covers forex transactions and translation.


18. Ind AS 12 – Income Taxes: Accounting for current and deferred taxes.



Financial Instruments


19. Ind AS 109 – Financial Instruments: Covers recognition, measurement, and classification of financial assets/liabilities.


20. Ind AS 32 – Financial Instruments: Presentation: Differentiates financial liabilities and equity.


21. Ind AS 107 – Financial Instruments: Disclosures: Reporting requirements for financial instruments.



Business Combinations & Consolidation


22. Ind AS 103 – Business Combinations: Covers mergers and acquisitions.


23. Ind AS 110 – Consolidated Financial Statements: Guidelines for group accounting and control assessment.


24. Ind AS 111 – Joint Arrangements: Defines joint ventures and operations.


25. Ind AS 28 – Investments in Associates and Joint Ventures: Equity method for associate investments.



Specialized Standards


26. Ind AS 41 – Agriculture: Accounting for biological assets (plants, livestock).


27. Ind AS 102 – Share-based Payment: Accounting for ESOPs and stock options.


28. Ind AS 116 – Leases: Accounting for lessees and lessors.


29. Ind AS 106 – Exploration for and Evaluation of Mineral Resources: Accounting for mining-related activities.

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