Indian Accounting Standards

IndianAccountingStandards(abbreviatedasIndiaAS)areasetofaccountingstandardsnotifiedbytheMinistryofCorporateAffairswhichareconvergedwithInternationalFinancialReportingStandards(IFRS).TheseaccountingstandardsareformulatedbyAccountingStandardsBoardofInstituteofCharteredAccountantsofIndia.
ThebasicobjectiveofAccountingStandardsistoremovevariationsinthetreatmentofseveralaccountingaspectsandtobringaboutstandardizationinpresentation.Theyintenttoharmonizethediverseaccountingpoliciesfollowedinthepreparationandpresentationoffinancialstatementsbydifferentreportingenterprisessoastofacilitateintra-firmandinter-firmcomparison.

IndianAccountingStandardsIncludedare
-(IndAS)101First-timeAdoptionofIndianAccountingStandards
-(IndAS)102Share-basedPayment
-(IndAS)103BusinessCombinations
-(IndAS)104InsuranceContracts
-(IndAS)105Non-currentAssetsHeldforSaleandDiscontinuedOperations
-(IndAS)106ExplorationforandEvaluationofMineralResources
-(IndAS)107FinancialInstruments:Disclosures
-(IndAS)108OperatingSegments
-(IndAS)109FinancialInstruments
-(IndAS)110ConsolidatedFinancialStatements
-(IndAS)111JointArrangements
-(IndAS)112DisclosureofInterestsinOtherEntities
-(IndAS)113FairValueMeasurement
-(IndAS)114RegulatoryDeferralAccounts
-(IndAS)115RevenuefromContractswithCustomers
-(IndAS)1PresentationofFinancialStatements
-(IndAS)2Inventories
-(IndAS)7StatementofCashFlows
-(IndAS)8AccountingPolicies,ChangesinAccountingEstimatesandErrors
-(IndAS)10EventsaftertheReportingPeriod
-(IndAS)12IncomeTaxes
-(IndAS)16Property,PlantandEquipment
-(IndAS)17Leases
-(IndAS)19EmployeeBenefits
-(IndAS)20AccountingforGovernmentGrantsandDisclosureofGovernmentAssistance
-(IndAS)21TheEffectsofChangesinForeignExchangeRates
-(IndAS)23BorrowingCosts
-(IndAS)24RelatedPartyDisclosures
-(IndAS)27SeparateFinancialStatements
-(IndAS)28InvestmentsinAssociatesandJointVentures
-(IndAS)29FinancialReportinginHyperinflationaryEconomies
-(IndAS)32FinancialInstruments:Presentation
-(IndAS)33EarningsperShare
-(IndAS)34InterimFinancialReporting
-(IndAS)36ImpairmentofAssets
-(IndAS)37Provisions,ContingentLiabilitiesandContingentAssets
-(IndAS)38IntangibleAssets
-(IndAS)40InvestmentProperty
-(IndAS)41Agriculture

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MinistryofCorporateAffairsWebsite:http://www.mca.gov.in/MinistryV2/standards.html

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