Harmonisation of various differences between the Accounting Standards issued by the ICAI and the Accounting Standards notified by the Central Government’
Revision in the criteria for classifying Level II non-corporate entities
1.7 Criteria for classification of Non-company Entities as decided by the Institute of Chartered Accountants of India Level I Entities
mutatis mutandis
Applicability of Accounting Standards to Non-company Entities
1.8 The Accounting Standards issued by the ICAI, as on April 1, 2020, and such standards as issued from time-to-time are applicable to Non-company entities subject to the relaxations and exemptions in the announcement. The Accounting Standards issued by ICAI as on April 1, 2020, are:
(1) Applicability of the Accounting Standards to Level 1 Non- company entities.
(2) Applicability of the Accounting Standards and exemptions/relaxations for Level II, Level III and Level IV Non-company entities
(A) Accounting Standards applicable to Non-company entities:
AS Level II Entities Level III Entities Level IV Entities
(B) Accounting Standards in respect of which relaxations/ exemptions from certain requirements have been given to Level II, Level III and Level IV Non-company entities:
13 Para 1.8
cd
v
a
c e f a b e a f b d
b c e f a b e a f g b d e
c c e f a b e a f g b d e -
vi a -
Applicability of Accounting Standard to Co-operative Societies 1.9
Applicability of Accounting Standards to Charitable Entities
1.10
Applicability of Accounting Standard to partnership and proprietorship
1.11
STUDENTS' GUIDE TO ACCOUNTING STANDARDS (ACCOUNTS/ADV. ACCOUNTS)
STUDY MATERIAL
AUTHOR : D.S. RAWAT, NOZER SHROFF
PUBLISHER : TAXMANN
DATE OF PUBLICATION : JUNE 2023
EDITION : 10th Edition
ISBN NO : 9789357780803
NO. OF PAGES : 452
BINDING TYPE : PAPERBACK
DESCRIPTION
Rs. 795 USD 41
This book is prepared exclusively for the Intermediate Level of Chartered Accountancy Examination requirement. It covers the revised syllabus per ICAI under the New Scheme of Education and Training. It applies to Group 1/Paper 1 – Accounting & Group 2/Paper 5 –Advanced Accounting.
This book presents the accounting standards in simple language and equips the reader to apply the accounting standards. The Present Publication is the 10th Edition & updated till 30th April 2023 for CA-Inter | Nov. 2023 Exam. This book is authored by Dr D.S. Rawat & CA Nozer Shroff, with the following noteworthy features:
• [Format of the Book]:
o Covering Revised Syllabus of Paper 1 (Accounting) and Paper 5 (Advanced Accounting) of CA-Intermediate (New Syllabus)
• [Chapters 1-10] cover Accounting Standards (AS) applicable for the 'Accounting' Paper of CA-Inter (Group1)
• [Chapters 11-23] covers AS applicable for the 'Advanced Accounting' Paper of CA-Inter (Group 2)
• [Coverage of this Book] includes:
o All 21 Accounting Standards (AS)
o Other chapters relating to AS of the new syllabus, as prescribed by the ICAI
• [Problems & Solutions] Questions on Accounting Standards of past examinations have been incorporated into the respective AS.
• [Past Exam Questions & Answers] are included in this book
• [Student-Oriented Book] The authors have developed this book keeping in mind the following factors:
o Interaction of the authors with their students, with specific emphasis on difficulties faced by students in the examinations
o Shaped by the author's experience of teaching the subject matter at different levels
o Reactions and responses of students have also been incorporated at different places in the book
The detailed contents of this book are as follows:
• Introduction to Accounting Standards and Indian Accounting Standards
• Framework for the Preparation and Presentation of Financial Statements
• Group 1 – Paper 1 (Accounting)
o AS-1 | Disclosure of Accounting Policies
o AS-2 | Valuation of Inventories
o AS-3 | Cash Flow Statement
o AS-10 | Property, Plant and Equipment
o AS-11 | The Effects of Changes in Foreign Exchange Rates
o AS-12 | Accounting for Government Grants
o AS-13 | Accounting for Investments
o AS-16 | Borrowing Costs
• Group 2 – Paper 5 (Advanced Accounting)
o AS-4 | Contingencies and Events occurring after the Balance Sheet date
o AS-5 | Net Profit or loss for the period, prior period items and change in accounting policies
o AS-7 | Construction Contracts
o AS-9 | Revenue Recognition
o AS-14 | Accounting for Amalgamation
o AS-17 | Segment Reporting
o AS-18 | Related Party Disclosure
o AS-19 | Accounting for Leases
o AS-20 | Earnings Per Share
o AS-22 | Accounting for Taxes on Income
o AS-24 | Discontinuing Operations
o AS-26 | Intangible Assets
o AS-29 | Provisions, Contingent Liabilities and Contingent Assets
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