Taxmann's Students' Guide to Accounting Standards (Adv. Accounts)

About the Authors Dr. D.S. Rawat was a Chartered Accountant, taught/guided the C.A. students (PE-II/Final) for 35 years. He has been awarded Ph.D. in IFRS. He was a visiting faculty to ICAI for the courses on Accounting Standards and IFRS and associated with the ICAI in convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS). He had more than 35 years of practical experience in accounts/audits of various organizations/companies. He has also authored the books “Students’ Guide to Auditing Standards and Students’ Guide to Ind ASs” published by the Taxmann. He has been an active participant and speaker in various Seminars and Conferences on Accounting and Finance. CA Nozer Shroff is an All India Rank holder in Chartered Accountancy examinations and cleared all his professional examinations in first attempt. He has been teaching CA Students at Intermediate and Final level for the last 12 years in Surat at Ravi Chhawchharia’s Institute. His core areas of teaching are Accounting Standards, Accountancy, GST, Corporate Laws, Economic Laws and Direct Taxes. He has also authored a book on the subject of Corporate Laws for CA Final. He has been invited by Surat Branch of WIRC of ICAI as well as other educational institutions of repute as a speaker on various topics for the benefit of student fraternity.

I-5

CA (Intermediate) Syllabus for Accounting Standards

% ' ! 0

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4 . % 0 ) 5 1 % $ . ! 4 . ! , 0 9 4 2 % 0 / 2 0

$ / ) 2 % 0 3 2% /) )# 2) 0, / $0 / )' 2. ) %4 0. %5 (/ 4# 2# /! &. 3) 3% /' ,. ! 2( /# 4 )$ & /. 2! 03 4% %4 .) 3 4 # ! 2 4 . / # . / ) 4 # 5 2 4 3 . / #

% ( 4 2 % 4 & ! ' . ) 2 2 5 # # / 3 4 . % 6 %% $4 .! !$ 34 %% ) #% .( %3 '% .# ). 4! ., /! #"

AS-7

AS-9

3 % 4 ! 2 % ' . ! ( # 8 % . ' ) % 2 / & . ) 3 % ' . ! ( # & / 3 4 # % & & % % ( 4

3 4 . ! 2 ' 4 . % . 2 % 6 / ' 2 / & ' . ) 4 . 5 / # # !

3 4 . % 4 3 % 6 . ) 2 / & ' . ) 4 . 5 / # # !

. / ) 4 ! ! ' , ! ! 2 / & ' . ) 4 . 5 / # # !

3 4 ) & % . % " % % 9 / , 0 %

3 4 3 / # ' . ) 7 / 2 2 / "

' . ) 4 2 / 0 % 2 4 . % ' % 3

% 2 5 3 / , # 3 ) $ 9 4 2 ! 0 $ % 4 ! , % 2

3 % 3 ! % , 2 / & ' . ) 4 . 5 / # # !

% 2 ! ( 3 2 % 0 3 ' . ) . 2 ! %

3 4 . % % 4 ! 4 3 , ! ) # . ! . ) & $ % 4 ! $ ) , / 3 . / #

I-7

412

AS-21 :

4 . % % 4 ! 4 3 7 / , & ( 3 ! #

393

AS-20 :

3 % ) 2 / 4 . % 6 . ) & / . / ) 4 ! 5 , ! 6

AS-5

373

AS-19 :

3 % ) # ) , / 0 ' . ) 4 . 5 / # # ! & / % 2 5 3 / , # 3 ) $

357

AS-18 :

317 AS-16 :

142

AS-4

335 AS-17 :

273 AS-15 :

124

261 AS-14 :

110

AS-3

246 AS-13 :

AS-2

195 AS-11 :

230 AS-12 :

159 AS-10 :

50 AS-1

3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! 2 / & 3 5 " ! , , 9 3 % 4 ! ) $ % 2 % 4 . ) ! #

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% / # . ) . / 3 % 8 ! 4 2 / & ' . ) 4 . 5 / # # !

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4 . % ' . ) 4 . / # $ . ! 3 % ) 4 ) , ) " ! ) , 4 . % ' . ) 4 . / # 3 . / )3 3 ) 4 6% /3 23 0!

544 AS-28 :

507 AS-26 :

575 AS-29 :

534 AS-27 :

491 AS-25 :

457 AS-23 :

478 AS-24 :

434 AS-22 :

I-8

Contents % ' ! 0

R E T P A H #

About the Authors CA (Intermediate) Syllabus for Accounting Standards ā Introduction to Accounting Standards (ASs) and Indian

R E T P A H #

Accounting Standards (Ind ASs)

ā Framework for the Preparation and Presentation of

R E T P A H #

Financial Statements

I-5 I-7

36 50

ā Valuation of Inventories (AS-2)

ā Cash Flow Statement (AS-3)

R E T P A H #

ā Disclosure of Accounting Policies (AS-1)

R E T P A H #

ā Contingencies and events occurring after the Balance

R E T P A H #

Sheet date (AS-4)

ā Net Profit or Loss for the Period, Prior Period Items and

R E T P A H #

Change in Accounting Policies (AS-5)

110 124

ā Revenue Recognition (AS-9)

142

ā Property, Plant and Equipment (AS-10)

159

R E T P A H #

ā Construction Contracts (AS-7)

R E T P A H #

I-9

3 4 . % 4 . / #

I-10 % ' ! 0

R E T P A H # 195

ā Accounting for Government Grants (AS-12)

230

ā Accounting for Investments (AS-13)

246

ā Accounting for Amalgamation (AS-14)

261

ā Employee Benefits (AS-15)

273

ā Borrowing Costs (AS-16)

317

ā Segment Reporting (AS-17)

335

ā Related Party Disclosure (AS-18)

357

ā Accounting for Leases (AS-19)

373

ā Earnings Per Share (AS-20)

393

ā Consolidated Financial Statements (AS-21)

412

ā Accounting for Taxes on Income (AS-22)

434

R E T P A H #

ā The effects of Changes in Foreign Exchange Rates (AS-11)

R E T P A H # R E T P A H # R E T P A H # R E T P A H # R E T P A H #

R E T P A H #

R E T P A H # R E T P A H #

R E T P A H # R E T P A H # R E T P A H #

ā Accounting for Investments in Associates in Consolidated

457

ā Discontinuing Operations (AS-24)

478

ā Interim Financial Reporting (IFR) (AS-25)

491

ā Intangible Assets (AS-26)

507

ā Financial Reporting of Interest in Joint Venture (AS-27)

534

R E T P A H #

Financial Statements (AS-23)

R E T P A H # R E T P A H #

R E T P A H #

3 4 . % 4 . / #

I-11

% ' ! 0

R E T P A H # R E T P A H #

ā Impairment of Assets (AS-28) ā Provisions, Contingent Liabilities and Contingent Assets

(AS-29)

544

575

ETE DD N S H E ET R ET EU E T NT X VE D I I ES D T D HN EA T EH O HTD GC T ON N I S ETA Z E E I Z S T I N C T A D I G T RNN O C E I A C A DMM ER L NL IE R PR I T AE A T ADP S T O I N ! S D AT OT N L W T S S ) A E EC I SI FI I C O V I N S N L SO O DAA T P R N N H I A F T AG" S T DI T 3 N NWFN NI ! ASOE UT N T E YM OU 3 D CT C E I I R OA C L T GTI CO !C A NCBT A I A S DA" R T R L E P N E A D R U AI S R E R ODPC T A E CNMN R D V CAOA AI N S N HD CI !E A #ET INF FC 3 F E O H O I L H OTG EONT N EI EZ VPEO T T I IN G H T U T N C NT T OU EI Y I T T T E O J I S MC N L N L B I B RC UI B /O SA )A! E H I CS L HON COE 4T APR A

T TSNTN TR EYRENNET R I A N N T E I IC O R ) VO B E A R U I EI O P L D!EP HI LHI T HI T T TT MU C T E ME ITT I T D EAG WOA E QRS 2 R E E P S S I A U PDN I E NWA O TSV PGR PN SNI S L ) I A T E D E A G E A E E R R L N R D E S E R R R I D VO MA I I E A HL H PPE RO E T E H P H M S I T P A M H W I E E HH $D C EO CFMT R DR T U B# S S E O P DU N T I M4D DEN! SOYAIS DHRL B C E D T R F R T OS EE T A FN UHAD UO D SD3A L R O I OTYN BI F E E E A R H G D N H Y R R R D M O YR S NE I T AI A E RV NS T T R I AWEA T LI T T A S N W OD I H 3 A L N T A O D M T E B SU T A G T NH N A I NCUN R S EDGM E DATEA E N R SOI N E S E I H B T C T NTE S T OCMA2T T 3 N C E D A3I S N E A Y G P L F R E ! N N T T E U A MGP G S N O U A N 3 O A M C I T I M I T L YN ESM OEN ET N I R C T S E H O A T 3 IT RL BND A AI T T S CEE L UNA L T C GRC A UR ! H LO U V M DUT I L N S NUNG T I S I A C O E O I E S AE O S D EC WCD LR HI GNTN N2 A FEM TS AN)I SCNHCI S T U E T N H D!AT!C NA E T N OE&S T l F RETE NO H T A U I 3 E E C B O T A U E A T H I E W Q H C T I S G T MA LT DT NA DNN H! L EL NI EET NNI NOA T RlIDA W I C V T E AI T I A E FE T NA3THATP N C A A T O D H T E 3 T D M A I U N R H S T E KA I T A H L O LS GEOSENYA T P I P A O S N H NNCN N # I O R I I E C I I AMl MC OWT PEW R T N S T E ! A I R N I N F O F O N 0 T C O E T R E E T O O A C UENC I N N PCT T Y N Y O ANNE T N S N A G R C T T N R CMFUIS R E AER I NlET I C OFMEEUE I U SO E N L S A R S R E S VDU ! S TX PE UHH US EP HN R T E I ET E S T E T EEE EM T) E GF T A NN HA T HT HO UF HT H % HT OT T 4DS A T IOTC !O

1 C H A P T E R

INTRODUCTION TO ACCOUNTING STANDARDS (ASs) AND INDIAN ACCOUNTING STANDARDS (IND ASs) Objective of Accounting Standards

1.1

1.2 Compliance with the Accounting Standards

e.g.

S 3 ! . ! ) $ . ) 3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! / 4 . / ) 4 # 5 $ / 2 4 . )

FO RE ES EN G A DD N O E R I R T M HT N EN E N N A A H I T R V Y Y O O T E I I E T P T T E R S Y S C U HM I E T E E T L D E U T Q G I N E R S T I R E B AN T EB OP E N E U WR A I U C R T E I H X M L D T O EO TE R A GU R E C 4 A T T O N B E U T NQ m A N F A E E D S I E F E EN T T Y ES I R E O M R S G A B L D R S L T O E P N N O E C A H F O G IU R S HI MT L M N S T O E I F I M S N 4 E L OD R A OL T I O I Y S D I T G L A N CA V R T T A R N N E A E E W A N S W O SH T U UF R E D R A M F T M A N M P O O I A L R M L A OT RL C E BT A DW F EO V TA OA E C D D E E H S Y F N T E D C R T BL N N Y N A T ! R E A A T P I I I D S T A Y A T E E R B T S T Y R V G X G M A C DM N S T SL A L N EN I I S I O AM T DA A R I D I G G E D A T I R R N W ET E I N A DC R C N L S S E A N L G Y I E A O O B N E D I V T U D R D EE T L D H R P C AO A R N L E OT E S BH S N N O A T A N T N S U M C T A L D T L E F A A N TS O l A C O DR ID T L O P I O N R S D S N E S S B E C A N H F I R T A NE R H AA R A N C A T D O G N E N L E M A E T E T I NN T W O T N N A S E A O HS H I D I T AU NR S RT L A IT CWP E G E T N CS A E T I O T W E T D N D DC N BS D SE A NN A SF H AI S F I SD E I C T D A U E O T I T R I S G S N W E T R3 T RMA NN OR N N D A M O D E R N E T E A A A C ED L O E P E I S R O R T DAN EI T CE L T CIE ACL A A R T A MN T F M N W S N B T Y H N A F A U D I A I O A A T T EAA T B U A D O T I A D D N E O T E N T U T S C R T N A D CE S EO I BN B S A EA I 3 T R E T E I L B C L I T R T E VA S BE SA G GP GOS C SS 3 3 E E R I Y C I U A S T NP N I R T CA GC AA EE LI T O C T E T I D G U A C I A I A I T T D G N N O L T M S N RNN RT R N Q I I A N N I E H A N A U A H E I E H S C L E E S W T I N R U I V R E E C D G U H C R NUC R I E Y C N I AT E OU T E U AOA T AI D RL F U NFl RL E E E E C C O F N P A R Q O A F F NC F O ANE HYH HP HA I S N CE I F I H 4 TA D I C TOH ! 4 4A $D & 3 B P O P A !R C T T ) T C ! E H F 4 O

SEN OEE I T HI H T D NTN E OYANR I O P B T R I C E M N Y F NR I O E P UO R #O FT S A FI SD TD O S R E N HA T A ND T I A M N R R A E I E T E H D 3 T HA E T G N GMNHI OWT NDI I N T T G N R C U R A O E O A PC 3E HD C CEH S U R! T I O SI D S WTE EI SH T R L S D I OH DE H T I T R I L I WA D P T DM UWC DN AY! NA L O UT CEPS H O3ET E MI BGR N ATOA C NT A YI T HSP T N U T T N M ES N DU O EOMEE# R M R CNI A CRUEF T O S!EQA V E R T OEORS H T ' L IT AN D L UEA IO C R NT !RT I U A SNTN C NECI E E#!F S

LG NA N OUO PNL SNA E AD R E SEW R H OT O T FL C L EOO R NFE I N $OE R I TT U ET A A BR R HA T DA SPAP E E E H T R D A S PD T L S A ER I H AR T DT E N N A I AM T TA T3 C O !HGT STNG I E ET I N DN N I T U UA AL OL PC E MNCR C I OD !S #L N EO FU L I O OBT HAA C N SL I A TP N L P EPX MAE E E R HE NT T A OT P SO I S T T R C N Y ET UP 3L I OH I CT B CI I AW S

1.4

2 Para 1.4

1.2-1 Advantages and disadvantages of Accounting Standards

Accounting Standard and the Auditors

1.3

Accounting Standard and Board’s Report

3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! ' . ) 5 3 3 ) 2 / & % 2 5 $ % # / 2 0

TD S SE S EEY E ENT C G DES N NNv F N I E A N H HIN H UHB N EHR E E Y OWL S A L E R A E I T T T T T T O E GT P A R E E T S H Y E S A R I V I B F I O D I T B T L F N V T R G A L D V ME C L S O I A P M N O ) O I L D O N A N 3 S G C E E A DN T Z E TE I I I M HC A B D I ' A N N V S ! H T T F A S R R D T M F I U T A E A A O U P I O EN ETN A EEO L W S RW P C H ERM RD HA G BCA U R H E H G E E D D S O B H T E # N D J DT T T R N VSE LB S L EN M T T FO I L L EO EA Y I E R T EA I C V E U O N Y L O L R R L U L HU A DU N I R WS A T S E F H WWh F P O OT P SE R E T I I T NS U I ND F T E P V C O E O " M N E H D I C A S O " D C l F D N V F O A T E H O T 3 ( E R R NR N N R C I l O 3 C E O P O S L T I A O I O ) DE T C I M EMA L I E R! S R X ! A G P E F I C Y T MF D S ER A E I D F H DT S T E T A EH UEU W F Y V L N P T RE N NI D N R I A D D N S E Y A E R O U E S A I N C L R A A G E B E T EB R D DPT RA L O A RA T S T T E2 T C T N N U I R E RSF SY D E E D 3 O H M ' N 3 R Q E A R B D P I O S R E A A N F E D D R T T P D R O E E E S T S O NE I E O I L S D D M C A U N G M I Y S R LTE R P L VNL DE E S I L D I A$ T L H U N I NS L D E L NA T U I DO DR A NCI A AB A I T A A W OA BA E R N O E D E C U 3 D T O B E H P E N N T T N DU W CA R T EN I N3 CNNH S SEH 3 N AE D El 3 I OMC I 3 CT U P N ! ) D H G T O U T R U S I H L R O D A3 O DO T R E A N GCET E L F " S E R E N T A T E I S R E A M I N H H L N E D B O D C R G E D H 3D T O P E H W S C T D T I DE T UC H S U D N T N N NL I N 3N EA I T T LE !RT HT ER O!N U H A OI I D N A U T AC DHP WI !A D N E I K R F D A F D S T T C E G P T U S T O W R N S O DDE UETE T AS R M I 3 U HN T A C U FE CD E RNL OT D ET S H A A D H T U E P I D R I C W O T F R N K A AE CUPI G T D N ED R I B W E EDI I 4E CA T T E R E E R R T E D A H OTS CT I UW O S E C N E HL A O T DA T P 3 U !v S I DV ORL LU N S N N S "3E !S I OR L NA T WU D D H " S N I S O E A T! ) T N A O T H S G OT H ) R S R WNW I DGT FNRF NNE I N 3I M O P C O C3 T I T N NR RNO OO'N D5E A EF IA E EO S I ED!E I O I H F R I T D I A E T D H T C I H N T H HT R NCYO AO O A W D R B DMO T O 3 N T H F R R D E T O T H ) S A N T F I P I W A D D T T O T F OD N O T A T P E A S E T N P Z U U L C I N U R N D E L F R D O G S I T I F E N T I T D O N O R L U A E T S O E U A E V O E O M O S N N N E N N W A L E O L A T S NH H 3 S H I I OA E F MT O NF SE O ISC S D 3CG RO O H3I SAAT T T E A F L N F R E R G O C I V O T A N C I F I G I G F D R T H R O T I E N G! SE L A N C R I EA 3 S S N PU M O P'OP L F I R L OI S O NO T E P L A T I A N N E N HT S E O N I N I I T A T L I H S T BODS T K RO UDTW H$T T l HI RY E ABR O F E E A T R U T K L P A 3 E T A E E E D 3 I P A L A A # OS E H CY PU E T T ) T I0C A L P HI L YG NI T EHS E T L C T B R W L $ $ ! # ! S A 4 4 W # A N T E E R O O U S I E H D TA E D T N UHR RH HT M T #HE S M P P M H J 3 H N N E " AI OWO C E E L T T ) N T B U O O I T T L E E R R R OT C I N I H F O F Q O HROU RA RN CNR NYOI 3MO WRM W / U ! ! ! 4 4 B P O P P P C S F F E ) T I E A "O S S F C N E C O2 O ! 3h C

Para 1.5 3

Procedure for issuing Accounting Standards by the Institute of Chartered Accountants of India (ICAI) 1.5

L TA N R ET MN NE R# E VE OH 'T E LS A I R V T D N EA # O ET HE T E T T I M M TO C !C SA E I D N E AT PU T MI T OS #N O FC O !S A H N NO I OT I A T C C I EF S I T RO E DN NY 5B

1.5-2 National Advisory Committee on Accounting Standard (NACAS)

LER N L TDEA )L SY! S ER DNDD NSRET l NYY O IYE A A T T T O L I I B V B H R R H O M N L I I I I I N L L R O F N W S T L A A P A # R N EMU ATCYU EI E M E S BH D O D D ) P N A H R S B T T O C CWM VUR DA L L T PN I NRAAI A N E N I A N D E L U E R C O S O T T M A L A O I A AT LI E E VNMR OCHAL OL F U HURL ' R I F D T I T I I E l S T T A T W E D M L M R S S G CCAHA O W N N R W A H P P I E N T W A T Y L N T OU YP UP AR H PR S A SD HC A S I BATD L AOISFEM S I R R I E A A T T T A W AWL U N O O H E E W T S O P L F U O R S A I 0 VN OER3HA DT ES A I E(DLTTC G D A SAIYC A N C C I E N E A N R H D A H T R E E I T A E V N DLRI S I Y N I Y Y T A ENS N H ANH L I I R T REEM L A L APRMD D C R I I M PE D A U A O D V L P T M A T W C M E C E E E E EHT SSA N PRNT PTEU S DBERNW T C O U H V H T R O B I U D A CA A DT NAWOlA ET OD E T EHIT BOA EO D T R T N R E E O U E A T AC F L R O N O D N N T E S I P A U S S N T R A N O ! L T D C U T A H 3 OHH T E I M U T L A R ( P T E R G 3 S T O N P A I R D A T E L A T C C E E Y S T V E A T N C E I S R AD LE N DEEAI U NEH L I GP D V A R C S H N T A V N T B E NAII N NS YOTUOTND I C EE RLRN DAF ULE E H P S H A U D E O S I D EN TA EW LC H RGNO R T GOT I T L OI A RSO "QIJ O I N H A R C E E I T I E L E I E N N N F A N W L E T B 3 O W C L R E N D H I I W H O B E l N UT)NII VHSS R VS P T I E O N !ER T R S WS(E AUS OFNEAW RCTI I I L I N E V V I F H T N T I L E A C D B H ND S H D I COT A DDO I EAPH EY E R T E T R ) R A E N L T T M C N O R F O N W H W H H O N N I 3 A S L E I T N I M O PM ET T !N T I PP BS R R T DOC!O EIAN T F X D H O O S # A S P G Y O I S I C N T LR YSETEEETN AANRE) EOMDL S T O N F T R T N T N I M E E B I S H T I T A A NNIO BO E AA US SO A GT I NM SM SE E I EL H ET E X T T T T SIOUWF SI T T T N E D D T H I V S R N 3 B E T N N S N 3 T N S D N X I OWO RF DA A R RI HT E A EWT T OO I L D OI A U SO LE ET E UTE T RL Y G N T G N RV A L Y E A C S T OP A O A U HN I EINREA DYN L EO I NSL UM L I E D N E PT B T T N N C D C T O I G I E N N C S E U R T HE I EU T YA O S DI COL T !N NENHUT EEEDI A EL T 4WDT MTCE ANP !CP ARATAAAR DHSRA A D E E I S U C S I L H U A N N ATE D EUD FAM RI T DSE TLNNER OI 3A AlA O E 3 C A O C L A F O P H I I R T A L N L MHNN E I NE CMTC CN O I F N GR E I ClIT L A L A O A I I M N G P I T H E F C R D C P A I C E S A P W O N R D P N S I C X N E T T R EIU O R D E W T N L T I ! E N P N P P D E T I N D A O A EH T PA P!O E BWB 3 F FR EO SA OA R I l N F ENT AP T NY E COF T I T EE M N LYDGOP U HOESAHD L D U lTEEE URHT ADN AATRR C I S A D I T D T N T L E B I P F T E T V O E O C O O NI T I E E E0 GI R NB I WM U NP I I LNOUNT PTA CRCMTOT T AT BE L NT CEAL E A O E 3 A A N S T I A P A C A I Y SRSNI SC N P MIA T PT I L DH D CDN T WMY Y I O L T T A ! N H C R A E E I L ! S OEUSL 3 S R E ) I T E R A T A I D O C O R C E R U ) R L WMI DO N S L OFGOVU I I AMM O R T E E E E F L A C D P P N E ! A O L L O E T F L E T O A HHFR HEON I CR A EA O YT F S N OU OW HA H HVR#T E H 4 NNP HT WOFC !P %C 4MT BS CT SBI S 4OP) R I )OA 4I

S 3 ! . ! ) $ . ) 3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! / 4 . / ) 4 # 5 $ / 2 4 . )

OV T O ' 3L A !R T EN HE T # TE N H ET S E Y R PB D TE A I F SI DT O RN A DE NR AA T T EC 3 S GE! H NT S I E T I DN N UNA OAP C M C O !3# !E H O T T E R F A O 3 E! R E D HNS T A Y U L E T 3N V! I E T C M E N F 3R F %!E

4 Para 1.5

1.5-1 Scope of Accounting Standards—

3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! & / . / ) 4 ! # ) & ) 3 3 ! , # 2 / & ! ) 2 % 4 ) 2 #

L HLLD!D FFDG L IO A A N O I L T E T N E NI I T R O AI C D U T R W T PSSAT N N S N N T N E A EE A3NV O U I GL NS T I N G # E NC O M O 3 T ON I NI I A C W I & T T E I R T MC D!C T O A N LN OH T A C UON ! TOE L ( E U C N S U OSE O O S ERR CEM3S I 3 R I E C S N E CN E T I ! SD A CO M!N C AA A A R O NHO .!C# G A FPOT T ! C P U T O M F D N A N N E TNI.CI E D N T NOR M ! A T I E F N MS WCE3O HANO T S U D T E U NE OYH!# E OT SEMEI RM DBTDF I C C T E N E T EO CS AA DUNL VO GNNI T ! I R F M N P C OOI O NI IE P VT FO' I T D R M T S O V ! N Y O O C O E P R N I L2 AO O F N S D3A POOY L A R! R& C'T#A DD"SE T I H L R WD#N. NA AT EA H O T E R RC N ! B AO E E N L HN T TI A.#H T N ! NF T N TL T I U EL E 3 R C OSEE HH I L T !W#!EEI I DHM T 4T A R S T EGDHW N L T A ! E HNNE U RRR I U I D N T 2 T N BO MNEEE R V B D I I RAN O A&YODR T R P B E . T OS U'M PTCA E F M S E T E T D U L E C YI B T E2I EGDLC OT U R O HNEAE #I PS!T F T L R I I S $ R I T N A T SC T F S EO T NYO I I N E E O H A NNC C / I O H ENL C U I T N E# N OO U FT NCMNA N P U A E 2 O TC T SN I I N I N CSE )P3 !BI S H EA 3 S L& GL !E!M! E T D ! MDN I I N L2M#O# R T WA NN A3OA NI N&N)#! R RA R E O P!TD I E OSO.E HE. H V M# N TPDI VT S T C T R A E E OI E OYF A EEA O!3T H H' 'C BOT C.!3 32D.T

LGN L S T G N D GF 6 M M E E DE I M MNO N E )ESN VNV I V I E U U I I I % T T S U O E T T E LI R I DI I NSOTC E T N N C, , D G ED OSCNE VN-E F E U U U E I S P ) N N CS EE3F E OS O U)OR M, O) -I D L C L C ) DOCE A E ) . E C C E D O R.CR D V % L R S S T ! ! N AO!N E SV N E E A E E N D I A T N D F E , F V I I I T T SAE O T R, O H 3L S I I O L C A)Y E S A @ T T T E ,N T YN A I E E D Z T! L I T T L I I 3 D T T F D I M I E E T D I I NV A F T L G#I EI I N3 NET N T )LE A N D N H H B A B T N S E A Z I T E O AC HI 3 I AT E I V AC O )E)S U I Y L CTI W OCS R G ) E N ) N R I I I E R D N L ) R R C I S L M O N L L U Z A P I L I PP A NP E I LU O I G EP T R O) U E S P P -C V T ! N E P N F @ ELVI FAM T E!S R D M R U L N NCO E A , S E E E N A E I O S O C O! ROT , T A B O E Y C C M N FSOCF S T F I L R DO I L E D Y C L A T E T N %A S6DN L P VT L I I A !U E AEA ) E T R Y A O E E X I T HT MHO FF V M LNO T HNA R M R S . I A N I O O E L N A T L SEE O GI UE N L S E U V C F Y C E L Y N T I NBOHEO T O SEA BE R O C N N I A D O I I E E CS E ,M T L T P T I NR LS I CC AS I EL I Z T E T I TG I D O I N B P A D E I A N U 3 EL S E S ! N I I T E P A H E H T X O E R E X C N R MP Cl 6 S I I AMT D4EN OAE I E T I O D G I L ) I HAE YE L S E CP R TRCN NS% U P l ) L C Q D S T OR N R N A N ) I M S E I M E P A R E A NE ) S ! AA E EV LL L R PM AC TTS S S LD3 E F E EE NOX GRI O AN L A R M N O R O R E, A O.E VRSLI AN@ I HP ST OC ER I A T ECAC MA N 6 D T # R R A I I S D D C O A S T S S , P E ) L E 3 E TE MTOV N N E 3 FT D OSN I @ L F N A A M I E O AR A T P R I D O E N E S T I O A E G ) I RI EV SG I LRE% T EI E S SU I ) T T R N R . Y U I X N R R E E I ) T C M E N I D E DX T A T T R E T P R I L EI NTU OP RE ER E,A R S T N T E T T N E T A S N I A E ) T UA E E F N )D EV I N D N R I E G H UE I T E L LEI S TO O S SN A T NDN E TYE E TRCL I N N T #MN I TDI E A , E E C V E V E R N R T T A A! E HV HCZ E OA ET EZN EE)NRN )T R A H I I N E E ) ) E HT ! #) 4 , 4 , & 3 3I P A E S S U D ) L H Y 4DT NO NA C EY AT C R BP3A E -

1.6

Para 1.6 5

Criteria for classification of Non-company entities for applicability of Accounting Standards

S 3 ! . ! ) $ . ) 3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! / 4 . / ) 4 # 5 $ / 2 4 . )

6 Para 1.7

) ! # ) E H T F O T N E M E C N U O N N ! R E I L R A E E H T S E D E S R E P U S T N E M E C N U O N N ! S@ I H N 4O TSS N SY DM N E E I D R E I I ET R D O T T O T IA I T A T T X # A R D E N L ENN OD U U E S PE EEA G S RT Y T HN I YE OA T 3 R N CD OA G A T NP P T N I PN I A EU MT MV BE ON @ O E CUT LH L CE L ON I T WG NR YNCE O C O R R M T N .! A E . N I E P UFFC H ES RO R S ML I B ON O A N Y U EO EB S F T O CU I E &I 3I L N T N I T T ! P NA B N I I CAN A T UES Dl C! VDN OL I D EI ENE NIR E ) L H S N L US P H ! H E WA WC SA T P R S D L AD OU S N I C TLS ISA D L N H O RDA O RT O T N OA N F A T 3 F M D S O E S A E G N T L O S I I I B N A E R R T I I I T TDA F E T T T E 3 N T C I G N N R I T I EI R L N U E N GO C I MUP S EY NC EEN I EQP I HT CEA RTC N A A T S A NRT U! P SO E R SO UB F N E E M O E GCO BP O N Y C N I R M C Y NA R !M A O C U CN R !ME H I R S A E I C E D NO U SOU H R E T I N PON N H HQ H E E NP T.O A W 4I 4 * R T I 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

S SG SE G Y GD S E E T N N NI E E I F I ET I I I I T T l T F T I I PN WS I I T S V I V UU N O OS I L I T RO L E T W A L F C C R L F O O T A C C A O O F C S A S S S S I A E S EE S S E S N D S E E E HR G E V O E A N P T C N N I N O C I UR O) T I I FD B S X S D RE U R A O A T O U P D SE UEE I I B I C T ER B Y E D N ES S R E I R H E E T R H G N OP R O T U OEN I T SP L MG C F L I LX T NO A Y A T O I A I R I L I S N I RN C R E E REU O OI EO N T T T N PT S R A S E O A A EN O U A E I I U C N M NU D C DDD D Y R O OC ON l N NOA NCE ) C I M I I A YC S L DN K LNG LB NA N I F M I A E A I O AT N U I R T I I R D C S E C A P E E S S I E R NN R H L A B S H E H I E C G E T I E V T T E E E T LE N M E I L G R VN MOR I T L I A H I A S E N T F MGP MDN I N W R A U U E S R Y O I R L HE E B OD L U C C Y E C I E CH E T UT R ND I PE I G N N T L A I H A R C I UN ON ICI I E WF D M X D D A D S O O C A E I EE EG I S EH CR S T G D G C N B S E X GU ARM AIY I N U S N T E E E I I N GEM GWN S V S A T N D N I I O K S O O N EE D UN EN E ERT HC L EHI N S H SRA O O C R T O E A W E T E T YTI U N R B I I G NTT SS G I T T T N I O N I I AAN E Y N TGR I P E I N SI TE C N N N S E Y S D K T ) R I I E R EV A R EOO YA MI N L T L N R T LA LHR R E N AA L L OO E O F V CG E %O "C !WC !HlY ( NE, T OA S .C A Level I Entities

iii

EE E S R N E R O O I P T S R I E C YI V Y I L NI T Y T E T AT C T F A NN AlI E I S SD S ) E L E L) EE A L N F PM I UM TE S V U E URI BSE B , DH SS RE T O E A EN I LC T I I TD AXE I E R N ER I T EF I S O ER S U )S MC D LA E L N OY VC I CF T EE L Nl ,R A I I RO TA C O S REW H NI E E T T R MO EO S R A G MGE E ONE I P HT R CD UA CA UR I NL C I E H CDY WG DX EG N EN SI EEC G W E I R A T I XN O G T E EU I L V T L N TO OO O N EN EF S C YE ERNC NH IUSA T T E I AT T OG E PF N N S DI MO EOTD E H L UE LW OR ! BC CO NM OR .O

Level II Entities

! ) $ . ) & / S ! # ) & / . / ) 4 ! # ) & ) 3 3 ! , # 2 / & ! ) 2 % 4 ) 2 #

iii

SG SE E N I EI T I PR V UU I T RD C AFE SOM S I S E T S E V E Y NC O I N B S X A UE A T BNA E RI H E OSR T F LT A IO O R R I S A R E OCE T N PYY S T O UEF G Y DDl N N NCSI I I ET A L LB EN F A UPU O I O C U P S R RC E E C GF I T A I MNO I T MDSG N S N U E I OL E D C CC Y R NXE A NI C E I I E NR D DSI I P S EG T GN B Y O AI L U GWNE S NOTT D A U ER RB I N D SO A E E E B I R M G T I N GO T I N NRM D EICI L V NE O LA L H ( ET ! HT

LD SG SE EG S E E R N N E VE I EI O I I I T EF T D I R PR I I V ,S C E V UU I S I C T RD NE T DA C C E E F NL R A ATP O M AC S S S E I S S Y E )R E S T S E EL E V LA E E Y N P E N O T CN I I VS U A B S X S A E EI RI UE A U D T ,R S B E B E A N O DM RG RI H RE E E O T OE SR F DE M T L O C L T A NA O I I A RR X I S I UC C E A E R REH ON T E N T G PE S DN S Y O ET U E EI U N MI G Y R DDTN D W S E OE NCE N NC VO I R I T A I I L E OL L LB LNO PN F CO I R A A U O U U I C R I TF O C R C P E O E S Y C R R H E T D NH E C G E I F T T EA T MNE EF MOl I I T R O MDCG N MGS A E N X N E E I OUE E OI L HR D D C P C Y C T CO E R UU NO I N N C A I L H R M I N I C I E WR D D R DXD SSP I EG EEE E S SO G E GNOY B E E ARCR AIDL I A U X T E N G I E GWTE S S E V T T O N N O E A N D I EOTY ERUI T EYI N SNOG SRBD A N O E E E YNT ERNI R B I NAN IUST M G T E T T O E I I AN) T N GR E N T O M U I PI) N N N C S L D ) I EODO EI E ML L O V T L C A H O L L E U AWH LW OF C L V ! BA !HT CTE T ( NU, OBS )A .) D N A ) ) L E V E , ) L E V E , R E D N U DS EE R I E T I VT ON CE T6 O N) L EE R V A E H, CS I A H WD E SR E E I T D I I T S N N EO YC NE AR PA M) ) O) CL E NV OE .,

LTESETNTESND TTHS I E T C A O U E NIO I S T HN HN VB I HA OAIT T T I ODR D E F W E T I T I C EE R E T NM T Y TEP S ODR I NEDN ,L P EFEECH OS EHEEE RS VTI B OUNRSEVATMLU C L N F O O I E E I O S O P S I T Y S U G ) X E T R I I O A DCH T V QU A I EA ) ED ) O SNML V E EXEG 6 M L I EEE NEOB R B4) AR R R OMCAE EP L RlE LHBP E T I V S O E C L E E P S T EA L I T BV ENROH FA A L A T T S G H , P O A R A C D XT YEOHH DTN I T O P , E D AS S T A D E I R R I L T A S A T E S R T A N O H N E M L L A N T X A E O I E T A D A R O C I )L AI I R HA T N UEE)AI S ) A RC T A ETADOCS)VT F P ) OND L O C G A R T LANE I CN CE SANY6 E MSR H NN E) VR TEAI VDE4 A E A H E F E O EH XNPSVH Ol T L , O A A E I E S%SV N LT T S TE VTUHT,I T N N O O P T R I-AE EE I I SSO I N N DVE R, A L T MO3A T V R AE I P )NEM D E R ET-F R , ) V R A 6 F E R U M XEFO L E O R E O T ) P E E D C ETO L S E A E H O T ) L V OH N ) VXETEENE LI A ENE ) T OER HHOVEI RTS HAV S D L C E S T T E,EOL T E Y D A O H E F RV GNT I A SF, MO E,NPTI I O R E L S E A R A R I N R L O C D U A DYO YED, I B OER N P E R O VAHNR E O F F A R B) )E A OS I I AWTA GE L O BF V R I N ) T N Y L A V E E E HY%3 ) YDl I L LO B R Vl PE ) T E CB T A E I E N GE I R L T I VCPAH L 3N lA H UCGEE SEST I N I N V L I WE-T M,AHNO I ELUOP S E A O ONN, T UQCPD RWTI C %L D N N N U T R YI AAO S CAO EOT A N AQE -S E S E ) S T I I X P C I T I 3D EDGN MSI)TEAO C V G N B N T A L R L E E I EE -L !I N E OR N LT EYE OR HL R V R C R L H R A A E E E A L NH OU EO EEH RH 6N A HF HT 7) MO !S CBCB,T T T

Additional requirements

Para 1.7 7

Level III Entities

iii

Level IV Entities

S 3 ! . ! ) $ . ) 3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! / 4 . / ) 4 # 5 $ / 2 4 . )

SLOOHS RH EDG E O OOS OF D S E T T N O E O R T T T T T T G N E C N D W S E V I N S E F L I U I A S E T T E A R L I N T G E W R A E S H S L R L E O O E T A ) A O UH E,B B R T E ) O P M VD NA NE V I ) C A L O OWY VEDPA T OE A R R E C L C L L F S S L N A I ,N YT O AC YOI R S T T E A N D Y R S A I N I L T P P E VEME T )A)I G AA D l TTA VU V E L T ) 3 S H I O O N E I D A Y A H E L Q A U N M T S E)AV ,ORO R D R P HG E L S E Q 6 C 6 S T H N NE A UE L N I A E )NR )TNI 6MA D OP I A L O PL D N QV I T ,A S H OT ON )ON I LI LT NW MN C EE D NB T B E E C AS E LCA S E ,ANFU OU IB VTA V NI E E U I B P A S T E I S ) I E E VM3 DU T I RX OS L XV O OH T ) U S A D E R I A , , W E B S L E A C L SOL R N T L ETD O O C C G T X E L E , A C E R R R D)R RN F ENAOA S EN E L A R N V F S I E I E ! E O O S T O N) R L R I P A A D E E E R S L T O Y E O AE S )RH )V NVS ET E N H S R , ) ) ) ST E N )V O E OOE) R ) T AHC ) ) PT 3O H L B ) OU RE EICR) NO LS L TE H E T O ) O ! I S F N T Z L P E E N T O FP ET V,PEI TI LTC E N O S I N A V V S O ENMBE E E G V ML V Y W L EI EOOE XC OY L D V , N L R R ! A N T I I O E I S B E E L A , R T I S P T E E Y P T A A A ,6 ,A NDX L L R R AN A N P L N ) L P , B I E I R C R L S M U E I P E A X T D D I O A U A L R R M O O D E M R A O R D A EO I E H E RS M Q EE S L ORN EA N T V ) ) S N V H O X E U A E A R ) I VF O X T L AADN )E )E D T EO R E ) R C E D T S C L L E 3 ) S), E RN VOYC SD EI lY E E EL EI E LD L RUA EH NE LM S OCF IL R V V R B H O A R E O I O R S E Y G I B A G S D L A C I O I A T E E O L V S V T A I V T T T A NS HD N YN A4 I O I P I R ,O FS SN L E) ,N A R S T ET E A T I T UN C L AX TN N EP A R EG ,) MR E , C T M N N ) S A T N D O A P A I EI OB V NN E QEI EA I T E UI NL IT F3L R NME A R E EE BDT 3 S T E E T 3 I D N I O O US A E T EM SNOE V DPOER A XP H E E N C I E I H S D G D T E M BE AANHS X M T T R R S C R C H S OO M L T R H C T I E EET N R AOS , E DL E TA LA T T UR EE !L RN I R I NN S EO VO O T T YEIT EWRHS R VXP EI E T N E S O O E N NS E IRWNEEE R E S F A T Y S V T V P W E O T E O C P T M A E O FU O EL N I VYU OD C EL R E R E N L A E T S N C Y VI F S I O E V V HRCT YOOO CEE HE TNEO SO P T S B C L T R T E U AC D C I CTLI N C I E T I I N I E N ON Y T I C N DT E Y M T T D HN A VU T RB I T RI OEE ED N FIL GU EO N T NV! T I E E SA ES NQ DN PPUETAA E CEE EOSL AE N E S E X N E E I I l REH,EBR L,E NL LIAE R L EMSBEY R T V S E E H N N E I I I L H M T T R T I B E UE H T N S A V A A O E A A A T A A E E E S I U H GH RH VH T OAO FVN XI F NVH 6H H ) NE O O) FA 7T TT 0S lT AEI T TN T TO !AT TCHC ) )

Employee Benefits -

8 Para 1.8

mutatis mutandis

Applicability of Accounting Standards to Non-company Entities

T E E H 3 E C N A L A " E H T R E T F ! G N I R R S U E I C C C I L / O 0 S T G S N N E E I S V I T T R N % O N U T E D O N C E M N C V E A ! N T S A T F ) 3 E F O I O C E N W N R U O O E G L I S T & N O A I L T H N E U S C T L S A A OA I $ 6 # #$

3 3 3 3 ! ! ! !

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:

3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! & / 9 4 ) , ) " ! # ) , 0 0 !

S N E A G N N I A & H D # S E T D T E A N S D A S I S ! L S E O S T M T S E A N N R E E 2 T U O ) G T # E N D N G I N E O T N I I 6 N R A S O E T E H # 0 N T C I A R X D O I O C % S * N I T O S R A N T N N S 0 I N S S G E A S I E E ! R S T E D T I ' N N T M M S O R N I E E I O L O E O I I C R R G T S M & T S I B N T E T N E T A N A E N A T ) 0 S P N T I N S I N I E 3 I M E M N T N E E , R ) U R S S M A O O L HS T O N M Q U F T I E A T R T G P C T T O N S N S S I % L E G S E RI S E A T A C O E E A O E N G E OC V E R L R G E D I N X 2 G V S M F C A T S T I V N E O R N A A N T L N I S S I N H ' N ! I SO P L S T A I I N 4 N I N A S A F T ) S T ) T H R ! N T I I R $ S / C O0 O G T # R R R E S E R RT O F O 3 & O ,G # O N F O O O N O O Y O G N S P O N P S R F D F T N A E T # RN N C A O F F F E # E E R E G GE I OI O E L S G G G " N ! 2 0 T N 2 T I 0 T S N N N E G 2 A N NM U I E TN T E N A L N & E I I L I C S E Y C I I I E N T 0 U E D A T T T T T I F I T B M O G T I I N N O O U U T F N N N Y W N D A I I L M R F C S R R N O G RC S N E U UT N I O I T O E E E I % U U U L N A I T O 3 M 0C N E S S R O O O N S R V P A C E A A P O N V P N O O E R L C C T! O C C C R A L G O S N T T A E R E E H C C C M O E E A O C CI I M R I N N N 2 .I 2 $ ) " # ! ! ! # % % ! ! 4 , 0 3 & C ) ) 0 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! 3 !

G N I T N U O C C ! E H T L L A H T I W L L U F N I Y L P M O C O T D E R I U Q E R E R A S E I T I S T N D R EA )D L E N VA ET ,3

E L E L B B A A C I C I L P L P P P ! !

Level IV Entities

E L E L B B A A C I C I L P L P P P ! !

Level III Entities

3 3 ! !

E L E L B B A A C I C I L L P P P P ! !

Level II Entities

Para 1.8 9

(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:

S 3 ! . ! ) $ . ) 3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! / 4 . / ) 4 # 5 $ / 2 4 . )

E N R N N R N N R R R E T O O O E O O E E E F O I I I I I F F F F $ E T T T T T RDN E E E E P P P P P O 2 ER 2 2 2 2 F M D M M M M T E A HE L HE E E H HE E HE HE T YL F E E E E L E E I E L L T T T T T X BN X L L X L X IX EE L L L L I I I I N B B B B B B E W WE B B W WE B WE WE OR2 AA A A A A A A A A A S C# C C C C E E E E ES ES E ES C ES I EXS EN E C C ES C C E E E E E A I I I I I I I I I L L L L L L L L L L L L L L O N R R R R R T L L L L L L L L L P B B B B B B B B B B B B B $ P $ A I P P P U P U A U A AU P# AT A P P AU P P$ ATO I P P P P P P A A A A AS P P P S S S S S N S E ! ! ! CO !T ! C C C C CO CO C CO ! CP C ! ! CO ! ! CEI I I I I I I I I I I I I I M L L L L L L L L L L L L L L L L L L V R E E E E TO C C C C C P P P P P P P P P P P P TT T T TT T T P T T T R T T E P O O" O S S S S S O O O O O O PI PU PI PX P P P P PI PI P PI O O OO O O R .N .N . .N !D . .N !C . ! ! ! ! !D .N !E ! . . !D !D ! !D P

E L B A C I L P P !

E E L L B B A A C C I I L L P P P P ! !

N N O O I I T T P P M M HE HE T E T X IX L I B WE WE A S E E S EE C L E L E L E L E L EE I L L B L R R L B B B B B B B P U AU A A P A A A A AS S C C C C C C I C C O I O I ! I L L I L I L I L I L P LL LL C C P P P P P P T P S S O P P P P PI P P PI . ! ! ! ! !D ! ! !D

E L B A C I L P P !

3 !

N R O E I F T E P 2 M H HE E E E T T X L L L I I B W WE B B A S S A A C C C L E EN L E I EE E L I I L L O R L L L B B B B B $ I A AT A P A AU P P P P P S C CP I C ! CO C I ! ! L I I I M L L L L L E P C P P P P T O TT T E P S O O PX P PI O P . .N ! !E ! . ! !D

N R O E I F T E P 2 M H HE E E E E T T X L L L L I I B B W WE B B A A S S A A C C C L C I E EN L E I EE I I L L O R L L L L B B B B $ I A AT A P P AU P P P P S C CP C P P CO ! ! L I I LM I L ! ! I LL E P C P P P TT T O T T E P S O O O PX PI O P . .N ! !E ! . . !D

E L B A C L E L E L E L E L E I L B B B B B P A A A A A P C C I C I C I C ! L I L I L P L P L P P T P O P P P P P . ! ! ! ! !

3 !

3 ! 3 3 ! !

3 3 ! ! 3 !

Level III Entities 3 3 3 3 3 3 ! ! ! ! ! !

3 3 3 3 ! ! ! !

Level II Entities

Level IV Entities AS

3 !

R E F E $ 2 ED L N B AA C I # L P P !S E TT O O .N

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R R E E F F E E 2 2 E E E L L L B B B A A A C C C I E I I L L L L B $ P $ A P P P P P C ! ! ! L I E T TT E P TT O P O O OO .N . .N !

3 3 ! !

R E F E $ 2 ED L N B AA C I # L P P !S E TT O O .N 3 !

R R E E F F E E 2 2 E E L L B B A A C C E E I I L L L L B $ B P $ A P P A P C C ! L ! L I I E P E P TT TT O P O P OO .N ! .N !

10 Para 1.8

3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! & / 9 4 ) , ) " ! # ) , 0 0 !

N O I T P M HE T X I WE S EE L R B U AS CO I LC L P S PI !D

E L B A C I L P P ! T O .

TTD TH T T S ERF E HET DN D S S M C E P O N O N L O E A S I S U C E O E E E I B E T E R A E E E N N O I I I I S T D U L A E T T T T A PAG H H I HYY C A T M I T A Q X V S SI L S C I S 2 T N T S S W E L L I I T W I E E E E I % T N N I A E O L H N E E V R B SE SE L ERNRRT P F D T S E E C D G O A P U E E A N H P R T E Y Y G S S I P N R R N E N S I H D C T I A A A T C E NL L T I A A S UN UN A A EN MSE OE l HL R I I DT NP L T SA SA H T R T P T I E T A N O O P P C O O N I R U O C N P DMC N L L ASB NT N PD E X M M A D R A T C C E T T ENN L N N A E % S S D 3 S E O O D Y " T E S G 0 I I G A I H D U E N C N C E N B D H D N N E E N T T N S O E I AYT Y M H AO G I E T E AAT DN DN I T PO MR M T S Y D E N R M T O R O E N L E A E E L E S O E M P U E A F T R E L T OU G. S S G. O O L VT O EI EI R P P OMR T OFF A A T A A T T S R O U H 6 6 O & I N R R CEF NS N OS MO E L M T S R N U) E C U) I NAE D N S G F A T 0 N S % OL OL I I NE ES S OGUNESD NH T O O C T E CE M IT CE S P V V I D O H E E N T N H M . E NE NE S SPP CCRMES DTO E E N Y P A N G E E O M R E A , , A OR )E OOU AUM A T N D Y V ) R 3 T R O D OD A ) PEG O N 3 NG N HMHCLN P G X U T C T ! N N H L ) F T A EA I NA ! C A RIG E M S A A R N G G P # I R I R WEHI VOER T D ) O ) F NA EO SD N) N) M D A N ERRA S TWT F H H R E I I R F O P A ) ) L L O P A T T A , A T S H I H B P L T L L A A G EO A T G PAR S E T H U D E N E E C N D C A R A I L L E M I T N D O T I C N I R E N E V R V R N D I W I N N NUO R R HNMHE G G E T E C GN A A E E A T NMW AYSEUWM ALR E OW , F , N O T Y A S F R R C T 3 O 3 U . E O CO ) E O O A L A % T FBCFA AEM R ) ED HO O 6 G L GO T G PT AAOP PD D R HE C O LA H HE E N N E F ) C R L L I I P H P P T T V B B E L ! E AA AE AA 4D R N N EV R R H E GC ST US G ,AI C S GV U E I I OT A O I A A L L V , CN R C P P R R E A 3R CE A P 3 AO C P ! !M 0A ! 0A ! 0T (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:

iii

N N O O I I T T P P M M HE HE T X TX I I WE WE S S E EE E L L R R B B U U AS AS C CO O I I L LC LL C P P S S PI PI !D !D

3 !

N N O O I I T T P P M M HE HE T X TX I I WE WE S S E EE E L L R R B B U AU AS S C CO O I I L L L L C C P P S S PI PI !D !D 3 !

Level IV Entities Level III Entities Level II Entities AS

Para 1.8 11

i.e.,

S 3 ! . ! ) $ . ) 3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! / 4 . / ) 4 # 5 $ / 2 4 . )

TN T T THS TN TH TDMC TN FRDO FDDE SRGDDE RE SD N EA HEE DDME AO O S N I R S U C S E C E E E E E N E R I I E E R R A K KEU N D L F EET OEI I T T A ON S TV H T DH T ATTSR A E E RE H PAG H YTP I OC I D C A U D M M M P 3 T E T T T X T PCE CCUA A L S L S E E N E E R A S S W E L N W GNDRJEMNA A E NPWNEJEMN P HNMA EENTEOI D R P I E A E O O V T T R R R R R E E L I M E F T O I S E N D D T D V S G R T S E C A A R R O A P U E E X N H R R T Y O H E O A NE(ME 3 O G O N A U R R I P N 0 E S I V H V D E T I A N R D N SA CELHRT0TTO A T A WR RR TTO A SSEL AH M O O E C I I D D P S A E N T N S E A L E N E L E N T R G3 HRU NENEGNA T OI T I HU A T R P D NTB N N E CN H A C F N U T I R UPA O A MO CT DD D T S NT AEIT A P O LT FHSN GON E EDM G R C NNT TTE RLDY ON 3A O O T DA E E E S H C C N A P T G I D 3 O D Y I TOORATNS R YI R E ER GGSEN 3NH T I S E E C D U A L N T I N L I DI I E E H I T T A E N L NNBTE EO L T F NECEW N I REEES D D F F Y A E I A Y M A T A A V I U H O O H SNFABS U N P O N T O E E A E R I O T F P A D D A T U E T M T E S I DNE TME F S ER R OOL T L NA NRI O L L T Y N C L E O H H S L E E T F T A P W M AF F T E L O T OU .PF MM E3EU VT I ET O EI O DYTYE AO RTGORRBTYE FA M A B T N E R MEBT U S D E EBDBE E NT I HH CE6 E HIMNSAN OS E T N P N EHDCU E D ) N H O SNDHHS S T(TII S S A E S T G F A F E N N P O U G A H R A F T E RNAEE N NES LO DT YE L I FNDC T ESUS NER ONE A N AC F OOC PED U I D D N I O O E E N G R C C L T H I C D M I I O C E T CL V F S YI RO L SE S I R Q E EOM MY U NA .R EA PCF APOMNGI NNO L E A H U E A L B R D H H Y B ) R A O A C O A DH O E U O M E , D R RL A ) R TE R A T T T P N L N AO EI AEE HC L T AN R ) I I P BL E E A AA DA I P L E RS HF G HMCGPU C T E T ERL L FDMI O T A B P R E R O I F A BADY-EBR EONUB IRH NMR S O UTFSTN-E RUG I R U E E E D E D W V A E R O I S S A O O N N R E T T A E S GT D E E A T W T T I H L H P N I I E C OB F H H T E OP EC O PHR I NI ET A ET LTSL UP I D D FL C A HH PA L I TF E BT SSA T T REUHT PT EEARMEBTS ,B OP C N N A C A A P I E N E Y A C M I D S O T P I C I SNE P E N R R E D DDRDA S I ODCERDA M N E E W S # # S R H S U N S S H N U H L G L G L V A G N I D I L E A M E D N I T A U E A W POHV TUDDI L NAT E R I E AYSS P OWEPU MTUD R I I H N L L N DA R O T C O COF O C Y RA T E OA E C C ) E R E E N N T M H A O O O E NR N C FBCFA AEM R S E ) UP H H HY I ET I HO HT E GS NE 5S B L BEA D5S PT Y AS AG AAOP PD D ST RDI EASP S M R E VE E L O R EV R SI R ,A F I d

i.e.

12 Para 1.8

3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! & / 9 4 ) , ) " ! # ) , 0 0 !

TD FRES HD SS SE EN3N E EEEDT DNAO DDMT OY E G N R I I C H R H H H N C OR O N E E I !EN L A A R A R C A U F T AE T A I I NH T)F A UE L L L ATVTL T E T S E NOMA DT S RET I SE F P S U A PCERP S T N I E N D R Y ST S O E E O E O E N C E W D T T N H M O L E E G E E F P I O N R O D L N I AN R L T S P L L E OO I A UI T C EISOTFHAT NFMBD UT P P E E H T T E P E N C T N T S 3 O Y C S ( S I I UR A N T A N R NE I AXHSA L C C H O E U E T N G A D A D D E L N NRWNS NE YYY C PE OEMNS 3 A DNN R A N 4 C H E L O E B N N T I I G P B O I O E A I N U O Y C L E P I ! S T R R A M L T E H A A T L S S I R A RG S I . A C D N E PDDR P A T FHMI T E D L F GM HOA ADATY T B L D I E A P N S O NI R O P T O T F E N O A O SFR TA T 6 AE DA NOML E OP I A AD TDI I N N I C R) G HP P I T T O E I L L H T N N F T S E S E RI S A NF U NAPD L HT E GM M A O N M A E D P T E A E L E I S A N T M T I NO E O E R ED M FNEBT E N DRS E T O C V E NG N T N O A I N N R R D E EO E U T I E A Y . T E L C T E3EA G O T M A R R UIA S A N RE HE L NE O N H I , N A N ) H E UTMEBL U L C ODR H T L T A O Y ) ) I C L E R T E HDUR P S ET S HOA P C T CEA P ) O OA O UA N N A A T R ECE T R. DL T CNP3A L M M N L N E l E 3 E I E E O Y F N P ) R D U E S S A D !R D D O E ) E A EE V U N!D MHUOICNMNLY MHO E I S A M L F N H O N N S G B L E S T L G B E C P PFA PQ E T T E L A YUODA S A A D , I A X P XSOR N DACF A R DAE DA V A O RER A YSEYI NE A A M3AA A C NRR R T O AT NRAEOM O E I A R T I G G E S T 4 E L , T L AA T R OOMI PN AA FNFRE O!TN P A Y P O E F E E T H S E D R R H C E BEU NROB O T P N T L FNIHE NRUT EBC T G G O O S N T L B A A A E P T I I T F OP OP NDRC O I NT NOR P AA EUGO BN A A N A N C L I E I I L I I T G OSRG T R T L DC T EEONEOAT C S DEOSC T N N R T I I C U O I A Y N O G N B Y N N N T O S H . P L A I I S E N N E N S S C I L M N D A I A O A SAP CR U E G DP T GNIHUEUFTF E#E HN NSL ARO E C H P H O N R E E E O DPOHREEEH O EP P P R I A A P R L CWDACCCRMNT CWR DHSSEC S U 6MORAU A A A ) P E M P O O F H Y A E E S N N C C C A T R R F U T ED E R R R O O S S N T D R P E D O BA DI RO ABABO A A AS AG EAO R R T G G G C LI I I S A N E N N L T A A A C UEWEC E R I AET V DT R A R ! E , A QM PS NO A E A RN R U EO SI 0AN 0 A 0 SE ,RC AD 3 3 ! !

a e

f d

c e

c e b d

c e b

Para 1.8 13

S 3 ! . ! ) $ . ) 3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! / 4 . / ) 4 # 5 $ / 2 4 . )

TY T ) FGEYGSEYA FE S ) EO EGL YD GE YGEI O N E T T T N R R R B H N N N N N ENNU ) T I I I S R R A E N A A A I I I I I T T O T T T R S A L N N A N T T T T S T U I G A I N E N N N E I R E SV EN DV Y S U S O OE UI SE SS EP N O ELlNV EP L OD R A U N O P U U M E I R J P I E T L I B #YTVNNY AE T A O PREP Y EOE R O M T O , O C B H A N I W D I A N C NMHCR T E OED R S E A T C N T L O G O S I O C A N P AUTCN U H N U HD T S2 OL L D Y! E # N E PC AI ETCQPYTOCE L NLN(A R N C A R L O E I B N M D Y NFN UO MAISN A WUI T L OAT H I O S S . Y A U I S S B R N O C O GN S O GUE H T E N O E A A A E N I A N CENOP DCCEV Q 6 S R S L 3 H E T O E A I E C N S C I P I R A I C E A ) U E L E S T V I T S R N E P ! T E NTA E E L E I S NH L ETO A E M E HR EH N T I GRP E I OYE I L MUT R E NR TN P D T TEI O E & S T V T I P O E R . E O N I .T P E U O P S R L C N N I T T I U D I L T E T D EYE CII )EHA P S OE A , B A E N AN E & I T T ) R N U A N T N E R A T D T ) F V A L U N D O U E L A I D O L I O E MR O NE AI A T D T L L A F Y S N R G O T P Y I N O D . , A E A 3 N E N E6I E V U T R E A N G S H T D N N .V R! I A E ET R V@ MH R T ER OD R QUT I A6 D T )LEA EE @E E ) T N F I I N E T N N N O O S N Y ) S A D E L A ) E B M ) N H N E WE , A H ) E E E T C ) ORHC A L NV E S HTR AMT L E SE ) L E M NV G T E RTHS IT I AOCE4 SS T N N E E 3 E I D C N S P R L E N I O E LE E OE V S IS PCYN R V EDAH T S OOT T I U E I R E S , R I Y E I L T T E R ! V ) A FJ S MET UE.T I T N UTSHTH UT ) E N B S R R U , O D A E U N SS A M , F ES OA LSEACET SON O U CV S I A S D A E U Q CAS E 6 O A O E I L , C ) SE S A TO # D) S T ET) S E C A T E ELHUOF HC T V S O J Y N T L A S ! P D O R L L R S N U N N B EMAC C E N DEE N ELNE I V R E H E A O X E S A M E U A L EL O S E L T D E R T O 6 N A V R V L N R A l A B L V S EN, TSTI G .S MA T T I OTE B E N R OP OD E A M AOLIFON ED S T S I A N H I L I , E T E E H O lS C R DT 6O NCN,HT G )TBU SS I SS BT R M SE I I A I O I C D A G O ) Y S EA L ) S T I O A A E EL E O OU ST I N ANO VI T F ENLL T DE N SP R I V T P L A C R C T A C P S V T * S H H L O C 3 T H E O I R O S H S E E P R I O W T V N P E O T D N T E A R L P A S L E M S P ! O E V N SE I P N A N A S L E V R YT P O E O S B A NT L R F S A A E E I S S A E L A ) A O 0 L B T ) EL R NN E EEI NMAS AS E EHUHHFPER L E R R O 4 /G AAE DCPR ,ARTQCTOANG !R. S GCE ,AA T G T I D I G C F R T AL AN E EM L I ESI T O E P R L R S T A E R L R 3 3 3 A P L S A E P N R A EHMO E C R P ! ! ! ! 0 0 A A E S I U!RTAEU A N T R CSRN ) TE Q OOOFO E NN HR FCONT ) # ix

d ii

d i

c ii

d iv

d iii

14 Para 1.8

vii

viii

$ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! & / 9 4 ) , ) " ! # ) , 0 0 !

TRT R OLTLN S S A A O OT O T I I F A N NC N C GE VDE S N N E NM AOAEEM R L I D R I N T N E E EU U I N T T T Gl2Q & A UA N D T N T E O3 Y S EDI EL R T CL L T E 6 E R A CA T SI OAVI TA !C D I C I N DPI T YN L I E I C N T O L O A I E A 2S O T N PN 3N*SLNS l OEED !INNA & I I SD OCCRYE S # T T N T TNA ET N N S R T A A O EO E EA T D N S PPI MDRGIE L E M I E O T N&RR EL O OS P I T T LC MO SNA N A A N)L T IT I NO R 3 OFE C C Y E O L#OR N T T T A I . G N A N T S I N T C NT ) N NAER I I N S NS O T E El EP AER R I NTO YMF E A P I PM NIYD I R A E 3 & R L C L R !PEN DOEI NI A 2 T S U ES DMNOAC T L Q I O E E A A ! N R D IENCDLA A A R B N C I N NNA LI F N Pl A O S CE AOSOS ST I RM L NNNTT.T OEINNANPPI R #M&EEEEPOE T A T M M R T X ST I S ST EU EI N E ET CI T A Q V E ER A 3L 3H 3N T ES T !) !E !T 3 O R ,

E TYI TFLO TS AEGE NT A A O F I T I A H H N N S D D I E N H HTC I T T DE RO N I T T T NE CRO EA C EM F H N ) H D I DEE O I O T D V U F T F E E S EP T I G N A I O O C N C NSMC F E N A E H E N C N I E O I S MU VRTI R R CT I A T P U D 3 I S U A L A N NOF T SO U A E L T P A G A T I C L T A SN TN XICS E T R T Y C N N A N R N N E EL E I NR NI E OE E A T P T A U P I U N SP C S E H N VE YT T S O I E A T A OOE S T A R UI AR E T R U R SO E HL CSE LP E OS A I T UC TN C LAH T I R I E AA C E F T N C E ! A T I VRD S I ANCVI S I H D H P I E I C T N N O ! D A T S S S F NSCT EO C H ) E I ) E S S HOUFAS EATAI T R E R E H T O A B T N Y FU C S S E E N E H E I E W T O E E O T B N I P S T R D T I I V I J R I I C ST SB YYI NTOOL LS AOAT U I T I T O A S ) E A L V T BRA U B HOCR N S I O N A I F A R S T O T C # N A) T A I Y O R C E E E T R C I T A E P R I I E O F T P V S E L Y A N R D C O E S S T I O L P L H T UHOA T T R NO N EUP P A A A ETR PR OTSD HDA AT O T PI DAC CYEN N AR TFO E M U E T P N VA CBI F NFIEDS TOEHP I A H U E O !DT U O L T S R O T L T E A D O S U R MA A D S NI T C DU R E O MON NORNC C O I I I E ES C E T ) C E I T I E M E W I R R T S P O I T D D I E E OVU A RP !RERSL EDHE T S T H A I S T U F O H D O M D T R I I T DOC E W T A T MS P E Y NRC A F O F F R DR ROMOAE HRCAS A S O SL I N E L F O N R D R L OI S) DA #DO T TN I PC S R M SAAOT S R P NSE R FA L DUFN T E ADY AL E E A H M O R M Q N T T N E N D T BT T O HAB 3 I E O E A O # E3ES N T M O F N M N T X T M O G C A UO AS T FST I GMB U EN T D O E T EO T I Y T D O PYEA INE S 3E R I N M T T E M V R T R R T T E A N I A P T N I A G E S O I T E N L T R T EA U I S U A N NU B V S M C E S L E B T L H I ) L A I E L M T EIDA ADCOR T T I S C A O R P EOAR I I T SRN E NS C A S SFS HCIT C A C U C N I I O H L N O D ! H ) N 4!NSM OEA N C N R U O O P T N I A E A E C N E E H CA EN ER S DE C A N HH YHE VS H !T HF HA T NT I II 4E F T IC4W "WRS

S LL Y S A S E I P E I C T P NI R I A TE S D UNML BE U M RE O L O OB W C LAR S T A IO D I R R R SA A T S S UHED C D NN I A Y S NL T E I U S E L LRBGB U A N A NI I P T I C T I R DN R OE A E T GUH MYA O CC LGC MP N OPNAO CAENN OED TS OO T LHN YNATA T L S OI P N E L PDYAB A TCA I Y I F T DETI I RHNN R E T A GA EI DEL SH NR B NC AO A I T T Y R F I 3 T E E R I R V A V GE E I H NH T COC I S T 4A A N W F E US R OEIOI H R S T CI E N CR Y E !PVT E I R S V W E T I I T T OC N O E(AT

SN E O I I F T I A R T A L N C E S DE RR A P DE NH AT T 3 N I GE NS I U T N R UO OF Ch CD !E U FS O S I TE N R EA MS ED T R A A T S D N EA HT T 3 OG T N I ET CN AU F O E R C PC E! HE H 4T T A H T

1.11

Para 1.11 15

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

S 3 ! . ! ) $ . ) 3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! / 4 . / ) 4 # 5 $ / 2 4 . )

SDDL SSDHNE EI HYT E T R E CBI A N N I BP S D R U A A I F W AO D N E R U SE O CR L S IPTSI YINCTERRSE LP I F N N P C E I I G BC OT OI L EN PR T I EI NR I A CET AO M M S C I P I T L LDE AES S E N U S E B N P R T F E M T A I UEUEA A R PBF TM ATD F R M N I S E S E T O I O D A S E D C C EYE R R P P T I OV HAT E YR A I A S T I S H H B O MTT DS A D T U 3 C N OSE O R HD SNA T L E N A E M U T 4 A D N D HI NOI T N I NRU3R ESTC O F A N M UET DFDGA O S N A N SI P A P S N E I T I S I R N T S XA R I H PCIO N O E ES S(U T SRE&L J L H R T E S E B A T OO E E D N T T CL S S ENUSNTBUNU S O CA D T AR OI MED R R!T A S P ATV T R ES I N P4EU T UI FPDD E A A T R E O B 0 N N T M C S O R R I E S I I S L F N E E LSMAPRUF !R R O O U I A Q IRFF SENE N B I E T O E C O T C I HA NRONTHRNNT E C T 4P O A N SEC AOE I 'E I R M M T L @ H NA S I SO S M M E Y W F I I DT NC R R IM E G R T A T O ES A R T E D A T S S S T A E S E R E 2 D E OUMT T L T T I E S N PDOE I A R SP O I RNR AC PE M HTNT UIF OI TFI O L PLE4E SNR E E Y A A T I P G O N R H LI v N C U T N A O O S C S I S EOI T I F T R R R I L Y T T P 3 T E A E F E L O N I A S C O N N NEN BN I H RC AUTSE EM) OR S M I O L O A GME TO P CD DS L EA O XCU NS FOH T O CTMBEAA UANE

SDYH EE E I ADD TD #N D T T M M H R E N N N ENBC I D U U A T A l A O O UA N)DR ON T T T I D T I I A T C 3 # T O AME ) T T A N O P S S C F D D R G A H 3 O N N C D . O E O T D N ) ) !!C MRNH E I D 3 I NSh NT R T E R OFET YA T A N E A A O E # G N H BR S EM I U ET E UPN NH T ERA A T O D R I I 3 N C A Y S T O T G H N A EP D S E SO !H T D N B N CN R A I A UO T E S E A R T C U I T U Y D O T S P SC T A R C R ! O E S N A D OOOE MT BE A E IN C C T D H U U P T S D N D E DSO SI T CD CC O E 4 TS A NN N S ! E 3 F # T T l OE SI 3 UIC!! S EO O I 3 C R N S E I E!A T D T E A ! SAA S D R B HMD O M E S G R A E E B R T R P S E D A T I N F ON F E E ON N S ED E I Y N E S D T E M O S T T E H R O W R ) R A E I B V R N A F N D T TR T PA L SOU OOW EP AA PC RA D A U RH R E # D E v P T H T 3 M C ! O E L ER O U S M 2 N E 3 T # U l E ! lAI F D C T P A S FAA EO N I O HT I C ET D2 T T E# GFR E STI ) E D D A I N O 3 E D ! O S O N N ETZDE I SN N RG D H N D D NEN ) T S AW F S E E ) A AN H N I NTP E' O T SHY D3M D ) RF C T I ! S A F 4 I U R A F R D R B D S T LOF UT I M NTO AO A D T O O E N N N T A 3 O I A E F S CT XO S NT I 3 D RDDE O T A U N S S E T C C S E N G A N ! # ) D O I N M N N !) T O AD vE F NS D N GC A N F A 3 T I ! W N S N A T T C I T 3 / ETDH I N A D E T GN T N N N S ! T T R T H R M 3 H E N U E N O N U U E A GA3 T E F L A T I I R O E H ODO O T UH T DUA GN ! Y A T E I C C C N T C N N OT M S T C C I D E N2A N E DBCA CFC U! N T I N A 3 S R R T R ! O ! C N O D V N U! T R!IE S E E 3 ) h A R C E O N E U O S D D HD 3D TE R CE D F E D V E O C O D T E G N GR S D I A P ! I N E O H R R TU T N NA3 CCNE N N I T E E R E D C S ! I C N I I ' ) F A O T U E N ES TN! ! M T IUT R E S T P R N N L O L A O A N N S A E O D A N D A U A N EH U T ML MBUO E T ATP R T O OH H OE RO AI R LOT 3 I NR C I L D M TOU I # T# P! E E F C C G N 2 A D P C C I # G L 3 N O HE HE C N TS LF E C F ! HCE N3 N) ! ! ! # 4R !E O O E IE 4R S!S # ) I P HSCS D I N E T N RE HFA A S 4O DMA P

verbatim

16 Para 1.12

viz.,

Applicability of Accounting Standards for Companies 1.12

3 % ) . ! 0 / # 2 / & 3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! & / 9 4 ) , ) " ! # ) , 0 0 !

S SEG S SDS GSH S NNP S S E E E D %E HNV NDC3D AAA E I I # O S R R R I I I I I T V R N N I 2 M T T H A D D A A L R R N A ARN' O & D D N N D D 3 P W O E L P P U U 3 ) V ) ) N R N A N C A FN DO AS OA E M MN O A A R O I I T S S C S C E T T T T R E D OS OUC D3 NHN CS N HEEG 3 C I I I R N # T O C % !G) E N N G N L# N DA# I I N AG L S I T A A A F E W H N D E N ) I A N I A ) I T I O P PPW H A I N N E E W 3 F T R N T T I I TA O NI H N YMML L M O F N E D C U R T F E AOOO L AV U E EE O O NONTU E 3 I B Y D Y O W H E F ) P O C # # # D F A R T C SOB CMGCI E , N D O H E N S C F Y N D A C H) T STD T E M I A O ! RT BI T S FE A FE A X U DE R!N M W O O ) S T DA I 8 N A I P TVOYF S 3D D NL )GEF ASS I I E O P E M E T N E B O R C E !D A R H I R S N E C 'E P EE E T T S M D R A H X R 2 T DN P E N T R E T D T E S E P E N NES E EE LT D N HR T AUDS L A R A N)ME N I A O E T T N N U P I H I T A A L O O P CER AL C A O % B F N U I M # S A C N D U F N T C L S LS IC DM L ) A! FAL A AMU E A 2 S D O R O A L N RE A D R E N F E E T H!E N I R OC EI A AX M OHR T D E C C D V B & L F A E F D A 3 I E SA N P ! MT S E E U M R L L E R D D XN AS A , U 3O ME R D UO D R N EA TA O N T P N ! A A T T 2 E A S NE 3P NS F SN SR OS T S R DRI I I O E GE N E E DAL SA S RD S NOT D N E S NC I H T Y # A G O ) FN ## NHUM E I RR R AO X I A T SFNA S 2! P DT A A N I R I O ! A W NE T S F A R T DH D# R U E E 3OP N DYT N N SS E Y US X F T NH ERN ERN UO A# E-DD B OR AN O T L C T T F I O E ) T M R T S E T R OT E OU A SS C O % I S T I I A C R C H E I N A S E N S V T N N N V I C I T ) E GE AHDDO E CO !D I OS E) T ) V EII NT N4NNT AI DU SG I D AS I W T O R U T N A I L E I E A L T G R N I AA A N L T R T B I T P V I O R C E ) N EDN I NE R I T T T F T BH I TE I E T A333N TE IYIV 0O!ND E S F U T E L R A Y N R T E GO UN O N 32GGE A H PB EBF S P AP & R Y I , U ) S N N E N C ! S VR NT ME DNS M ) E B I I I D F E C O D E S T E E ET E D D T V N E GTN R I L V A RN DVAO DN L N I T AA A E L N HN XA HI N NU E EN P U % 4 4 D H G A A C O I R P E ) S D I DM R )D OOM F S CE N MN N I A ENC CI TO T AC N E A AR HO HOCCF O R T R T 4!#S 4" 4P!!O 3 NA E

SN S GD% E E N EO N I GI I R N L O TE N L S I A L AI I V3 L P I H" L ON FC M C " O X2 O TO E % O S C D S NE L K. 2 V L ) E O C A . S CE T B O ) R S OG A T I O H R L 3 F F N T P O S NR AS I NH OO H E S T I I A GW R 6 RCN " NT O * OXA I D E W Y T %P N N S R I DKM A L G T A E C E T F N N E S T OO N O I S S T I I ST C I V U G A 3 L S S L S A N I A A O C E I ENN H V " C 6 O " R A A A S OI AOH Y Y R S A R R E PD H ! R HIT N T D S O O CN F R N) T T E I A I E A E I Y A H ) R E N H D D D E A D R A I T I S N E N WD E S P D O E A A SI T T HV I S S E M S U T - I I T I - L RT )S / O B U N S OA E AO E R # U E R I O D 3 PRS G A N OAN M A E P AI T A T EHH N M PD OD S E L L C I M N LO R I L I0C I R R # I O) N LS R A P P L NNX N P 5 # 0 H I ! ! !II% !T I T T TW S S S

) E S A H 0

) ) E S A H 0

Para 1.12 17

1.12-1 Applicability of Ind AS to specified companies

S 3 ! . ! ) $ . ) 3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! / 4 . / ) 4 # 5 $ / 2 4 . )

vTTT TR nGSRH E GEE YN D SG # E Y O L O N O O W # C S M T H H C C N N N E T N L T S P T O A N I I I I T T N P E O ! & I O A I EO T U! L S D D DN P T R L B P C A T I R R L N E O L 3 # O S E S EE A 3 P I N"O A D R A X E O R O U P E R M CI " E C . E U G E N F I A RT N RI ON S MOPA O EE L E T U S ) C T T O ENCN E T E T R D A R C S I U N Q R D O A A L A N N M HS N T P E O C E D I I S A E D A T B I C P N N T P N E D V E U R A R ! N S D Y A h I 2 E L EM DR R A E O R NR E L NU L SY I O I EA F FMF C O EE BE . T B I IO E EA S U I B I I O T O O T ) O T T H A Q T VD OG UA C E C AS L S I N N T P # L E F # I I I O Y P I N C D F N L N D F D E I N E L I O O P D A R I O O A O! R OENR GA N NN N I T TH GD A A H N H E T N C I T E TO N AHA O AP H NE R I 6 T NE T SI T W ) U S L D C E S I F I C D T R P I L M N U T L * O M A T L Y N L N E M I T A N B R ! D O G I D L F O E T S I M A I E D T N E O S O M A HN I UI N W L M F O EU # OSV S B E T E S L N E CC L I OWI # RG S G I C S N N A # T A E T U N D A N N F D U I A CE EU P P E -N SC WT 3 I Q I S E A N F T N E N H A G N L "EE U O RG IT T NE A M R WNNR 3O 3 YH 3E H N A A N S O E A E E G N A O C N M 2 C E I C I ! G E I B A P I O T M G D E N HD I C X T C X S NAD MWE Y NC N HC U D# PE 2A I NI ES T BG E I O E N V L N I A 4C O OL T E E E S A M R L A N G B S T A N O R L K E A A W S E % C S H A U L ) P A AE O I H G N N L O U T H # D C ! R R P E T O C O I C E D U S H T N D N S C l S E O R F I 3 V R Y L M N C E I I R R L I E N E L E v Y 3 T E L P R A F D P I ! X I V A R I A R O EDEN NEEB ES I O F N M I H P H U E O N H T V D A A Y S I I C E Y A BI L T I I AR O T I S DC L L O T O O P B N L S S R D N G C E P N N G K N SRE A EF A O I ET I ULA FN P T M E L X ) D Y A A N O S M N S F N I R K H 3 A V R R E E E D T I B T N E N A A O I A NU O ! ES DAS SF E AN D P I H E U S A D D H A H O C S T C D B F E A E S L H S D T D R I O E N T E N I P T L R 3 O B U L S I E DE 3 S G N T N Y I O G EN A A I F H !) M TA A SF I MDA I ER T E V A N O L R h S A N E R S D S T U O B N I E A I O D E T A I I I N U O S Y D T E E M D T D I E N O H D IM R S Y O N N CT R NT L M A T ENR C DN P CS I I A S L I N A N R N N ) L 3 R O A R A P P W ET L ODDV UE EOA O U E SG EL I S E R 5O 0 R N ! F E L P 3 R O W H I H S E T I E M D E O N C M MT I T R D CL E G B CI TO N ST D A S 2M W L N V E B U O I ON T S I E I S I N Y MTI OH U N ES C S H /O O N A Y Y Y Y #) S L F S I I I I N D T I C A C D E N Q T N T U N N E O W N S RH HL CD A EN AS A G A O TN C I A T Y G E N N U NUR E P A O Y U O P C P Y P T I R ) I N N S V D S D S R I 2 T N C NO E M N O S I D D O E N E # AA UPE O CE A MR MDN M GNBE I L R R SC A O D Q O L A O T U P C E E T P S U N L E A E E C I U E A C E L C C O A E ! I I H S D I H M D D H D M 3 X C T 2 N C C M D R E EN EWI A OT ETU 7N O E EXC E AG A H H H H H T L N HA L S O T EA T H A C T S PNS DCF T T O I E T O I E C E I C T N R S S D I L N S R MS E I I D N N R L A O L I F G G H L L OX A AT N N L O U E A N MC W #E ! D P3R E R I I

1.12-4 Enterprise

1.12-5Exemptions/relaxations to SMCs

1.12-3 Small and Medium Companies (SMCs) f

18 Para 1.12

1.12-2 Roadmaps on Ind AS for banks, insurance companies and NBFCs

3 % ) . ! 0 / # 2 / & 3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! & / 9 4 ) , ) " ! # ) , 0 0 !

TSERND SY R SYT S EN GSFG Y I C T E E CO !RN HEOE EU B NAON ET I l E S R C Y A D H O 0 I I I I S NT HC T N D T L E PETT A I D D 3 N A T E A E A A A S O N N R R P G L S E ! B AM TA V VE N E R U PV O A A A D E A O L N N I L DA R E L S GB GI T RB I BM I BC 3NO MG EM T NV N NE D EU EC PA T A R !AD F S O I E R R A R S R X N E H R EI RP O D CN S A A S E RMN L D E T O C T Y S E N D S E A S I A LE G E % ST S N T L L T E ODA TA A I OR R NR E h PO HD A P N L T NLRU R HA A B R A T I P E 3 E SN= N A OS APAO C P N O E WR H S U A ! T M P C M N S OA ETT E SA FS S A A S I l YH E S O GI # D E F S I R B N L 3 MN 3F ECD S I N R N N PMV SO P AUOE -O ! I NAD I !O O T I PS R A S L T U E O I R T E R N 3 L 3 T C N R A T F R R A Q N R P D E E P D D B N E O!E A O O P E U I P E A N RE RN I WT X P 3 MR P STD R DP E E FNAA OS G D C A A E ; F R M O A O S T O E L E A E S L NU S R L EOvAR DB F I Y NX R E NAO E C T A R A S O P H I O O T N A R R E O S L l U D L E U U T T S L N N L E I A U N F E H I E 3 E R S S E B S S G Q D S E P A S L S S O S l W E I E A R D E O 0 T L N E B M S E R AC D MTM I S L EU E L HE I L R T AN FPTD % C S NO T , E DN SEN Y W GCO ED N S SOTI NU I M A A h E H E!C I N I R O AO O2 R S TlDO D TDR D S T YE S L L A E C U E P E L I L B C A T B N P D E L U R T N T S EI O S N E S R PNA TD A EA HS Y NL P C T U O B F HN D A N E E P E A N T N L 3 E A L T M Y T I G M R R T S I AM S B O I C N UN E D L ! E RV N A A W N N E E I E N EPS S N S E P E Ol S S E I F I PF A D R AEREUM S X O I V T F T E D E M L U M Y OMY N V I I HNE N S A EA P BO E IAW D T L L N G O S Y O S O OI L AD M C P ER O TCIO U SL DU A A T O3 # R N N E E A m C L U S S N T N l Y S L E O E M C P N R C I V C E v C TGP T ES P ESI FP D HD AAN ELH R O S M F O R E R O O M E G I E G L A F O T N S S M P R J I E CM TA A B I COA ' D NE O O N CA BF A TN EV O B G N G N E I T I P C S B B C R S T A T P O N T EI E EE DRO NR D OD DN T N E O Ul AT I E MR VN E C I L PO O F W O M S N H T T O E S R H N U N E A E O ER EA A D N S I T N AO OD N R S O D " U N T I N G O X N H S E E D A T E E L E U D C L G DNR S l l(U T NF SAT EE DE D SE SWT U O T E E N R E E C I A O EOP U # E R Y CEE C #E #LL EG AR GEY E N RF E ! EI N D Y R A S C N E T S U N E N U N N N F A E NC A I I A N E E O E C I T F H L O v S T O 3 M L L S $ 2 3 B D B P O O A S E SENA 3P S S E L O A A E E S3 R L #SOP # # # R U A I G T C ! E M A D E L N R RRM H N S -E -H -P A A NA O A I F I % O 6 D 3 3PF 3 3 O PD AM 3O C 4h P U M L C O N# I

T SE RN A E HGR NR OU #L - C O 3NE H TT NU AB N G I Y NL N S I O E U I BO T I A YVX A NEL ARE PPR N MO R O OI CTN A XO AA I LP T EE R RM E HRE O 7N X E OT I T N #P A -M V 3EL E NXE OER YE .N H OAT T RR O #OF -FS D 3E E l lI I ML L OAA RUU &QQ

1.12-7 Change in status of the company

Para 1.12 19

1.12-6 AS-18 “Related Party Disclosures”

S 3 ! . ! ) $ . ) 3 $ 2 ! $ . ! 4 3 ' . ) 4 . 5 / # # ! / 4 . / ) 4 # 5 $ / 2 4 . )

L TL TS TC TE TG# EI ESEEI EOE Y Y N E SA IO ANRN L N D H BH A H H BTT N V OMT E ME B XAOA AAR I L ST ENIW O E T F S T A A ORT4DH A U O U D N R 3 L H D L LN C L ND #H T CRO NS I D I S R E PL B Y 2 T E T E U U A O A R N EON#A# A R L B DAI I REI DT SH VAI O UHN BC -DW L T E W D A T E I H A S A L SCA S P T S REPS NA A SED O S R E T V 3 G D 3 E B E S C H I W S E I T O AA N VC S MI I RR N N D T U I N N R N E RO #AA E I T R G O I A U N EM I LE HOL ERNNET QAA OS S SC NW L F A DS I I XO C D C A S S E N I G MO APL E I T T T NO S O RNPv A R NI 3OM H L OEET A L N E I H M S N E L EFDESB T R A P I U O C # B O U L S I X D L T T T N C R T M R T D P U W T N I O I O A S A I E O N O A I M P T E E 3 R L I N E L I O F R O Y C I L R D U L E YAP I NA H T SR T OA MT CE GE T QUETVA XO GD S3 EUC SN S M R F C E I C H A V A N N N E EGPDR A E NG E N AH ElAN ROI I E H S C H A P L R T l N O XEPM I A N EP R H I GS T T T A OC E T I I I R EMAE PMNM T R N O SA T N R SAW IEN W N A Y E O N OEI N O N A H T N O N UO I E F I NT RO NR OT FO SHTEHOS MCIO A HP MO OO L I T I IC T DTNCTIL OENC OL E H# DSAE I T S T A U C R C D A D T T R O B U P L E E O RN L GI NT NA T UB D C I SA I ON C L ON E F QS HO A R G T EI- NRMB PA XC F E A M Y C ! A W T 3 T E E A M DACI l V I AN NL N OR E DOC TP TO R L C R I E NDCV#L I H A ITXI I E E I N S O D A A C T N G N E E O N A T S T L A T AO S X EP NE EA DA F P P E N H-RN SEL GEHL T I O L E S E I I S E 3 I H S P Rl X UEUG N L NHTA TR R O STH MN NL S R U I T K S E T C N I TE U D OPT A TA H L ETS OTNOE EQ #N AA H I S N I R I G E H E M B # I H S D E I I E S I A A T P X S N A T O T APV S M T S Y L F T N D N R A D S F EHA O A VI Y N L O B I M VTE S O B S I OO !U N3U L TXCA E D ENR A 3TGS ONDS I ETD AWVR T O E N C S E N A O D O L T L A R PNWP C S L S N HS R NO #U S N RSOU L E I S I NUIR I N O A # A R I T C R E T L F O D R A A E A O A E O O O S S A D D P M P C I Y T R L T -N SRHP F CPO EUEA D VODT CO OC H OA S SC MT E RD L NDC HCHENEO N ATNA OTS S T O O G T R A ETRAXN 3AE E NA IACA OCAX T I T T Y S P C E E P # F D I A N D T O A E XEV T S L E I A S # N S L Y N DHO O F L I ! P I S T T R B D D E L E M P E H T T N A E O E A L S OT BO O C A R N HT #-RL U N G I UA I YMA 3S HO#A P T DL MD NEHR I C T T R I Y 3 C I N U S Y H T R T S N C O C I R AOT OL T NB C SN E I TN OI H !T P E FI - FAE T EO ERSO 3E ME CSAU A PR O V M N S E R H O C T R PSN PISS DUI HU WM T H D 3ADAN P C GFEE GSP C N D O O O E U S T N N # E # L EAS NEP TES C E R SA #MNNO TESO E M O I # L l O C O C S I I L X D O O C O -D#T -OT B I I T SA HRNC #-S G TI E A E L I L E R . R T A A I I N N O A N N C T R D A C 4 3 N A 3 D S F N N A H P D 3 V A T A P A A 3 S E UCI U E I 3 h W I O O U T I O D Y I I M A F V D M 3 X V S L S L N T H OL O L S QNT NNL TO C E E A N O E A T A E CPNITSD OS C A R S A E A S L S L RE HI HO OC E CPOVCAE RUEAR X FD HE I E E E O HR HN A OS T FT PT 4T 4T & H B B P O AAPR AR S F F T ) ) T I O N F O

20 Para 1.12

1.12-8 Disclosure by SMC

STUDENTS' GUIDE TO ACCOUNTING STANDARDS (ADV. ACCOUNTS) STUDY MATERIAL AUTHOR PUBLISHER DATE OF PUBLICATION EDITION ISBN NO NO. OF PAGES BINDING TYPE

: : : : : : :

D.S. Rawat, Nozer Shroff TAXMANN 11/01/2024 11TH EDITION 9789357785600 610 PAPERBACK

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DESCRIPTION This book is prepared exclusively for the Intermediate Level of Chartered Accountancy Examination requirement. It covers the new syllabus per ICAI. It applies to Group 1/Paper 1 – 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 11th Edition & updated till 31st October 2023 for the CA-Inter | New Syllabus | May 2024 Exam. This book is authored by Dr D.S. Rawat & CA Nozer Shroff, with the following noteworthy features: • Strictly as per the New Syllabus of the ICAI • [Coverage of this Book] includes: o All Accounting Standards (AS) • [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

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