Accounting Standards & Bookkeeping
Articles & Guides
Expert insights on Accounting Standards & Bookkeeping from practising Chartered Accountants — plain language, actionable advice.
AS 26 Intangible Assets: Recognition, Amortisation and Disclosure
AS 26 (Accounting Standard 26) prescribes the accounting treatment for intangible assets. This guide covers recognition criteria, research vs development phase, internally generated intangibles, amortisation, and disclosure requirements with practical examples.
AS 27 Financial Reporting of Interests in Joint Ventures: Complete Guide
AS 27 (Accounting Standard 27) prescribes the accounting for interests in joint ventures. This guide covers three forms of joint ventures — jointly controlled operations, jointly controlled assets, and jointly controlled entities — along with proportionate consolidation and disclosure requirements.
AS 28 Impairment of Assets: Recoverable Amount, Indicators and Cash-Generating Units
AS 28 (Accounting Standard 28) prescribes procedures for recognising impairment losses on assets. This guide covers identifying impaired assets, measuring recoverable amount (value in use and net selling price), cash-generating units, reversal of impairment, and disclosure requirements.
AS 29 Provisions, Contingent Liabilities and Contingent Assets: Complete Guide
AS 29 (Accounting Standard 29) prescribes accounting for provisions, contingent liabilities and contingent assets. This guide covers recognition criteria, measurement (best estimate, present value), the distinction between provisions and contingent liabilities, and disclosure requirements.
GST Valuation Rules: Section 15 CGST Act and Rules 27-35 Explained
This guide explains the GST valuation rules under Section 15 of the CGST Act and Rules 27-35 of the CGST Rules 2017. Learn about transaction value, inclusions and exclusions, valuation for related persons, agents, money changers, air travel agents, and more.
AS 5 Net Profit or Loss: Prior Period Items and Changes in Accounting Policies
AS 5 (Accounting Standard 5) prescribes the classification and disclosure of certain items in the profit and loss statement. This guide covers extraordinary items, prior period items, changes in accounting policies, and changes in accounting estimates with practical examples.
AS 9 Revenue Recognition: Conditions, Methods and Disclosure Requirements
AS 9 (Accounting Standard 9) establishes the principles for revenue recognition from the sale of goods, rendering of services, and use of enterprise resources by others (interest, royalties, dividends). This guide explains the conditions for recognition, percentage of completion method, and disclosure requirements.
AS 10 Property, Plant and Equipment: Recognition, Depreciation and Disclosure
AS 10 (Accounting Standard 10) prescribes the accounting treatment for property, plant and equipment (PPE). This guide covers recognition criteria, measurement at cost, elements of cost, depreciation methods (SLM and WDV), subsequent expenditure, derecognition, and disclosure requirements.
AS 11 Effects of Changes in Foreign Exchange Rates: Complete Guide
AS 11 (Accounting Standard 11) prescribes the accounting treatment for foreign currency transactions and foreign operations. This guide covers initial recognition, reporting at balance sheet date, exchange differences, forward contracts, integral and non-integral foreign operations, and disclosure requirements.
Page 2 of 3 · 25 articles