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Accounting Standards

Accounting Standards

Accounting Standards

AS 1 Disclosure of Accounting Policies

AS 2 Valuation of Inventories

AS 3 Cash Flow Statements

AS 4 Contingencies and Events Occuring after the Balance Sheet Date

AS 5 Net Profit or Loss for the period,Prior Period Items and Changes in Accounting Policies

AS 6 Depreciation Accounting

AS 7 Construction Contracts (revised 2002)

AS 8 Accounting for Research and Development

AS 9 Revenue Recognition

AS 10 Accounting for Fixed Assets

AS 11 The Effects of Changes in Foreign Exchange Rates (revised 2003),

AS 12 Accounting for Government Grants

AS 13 Accounting for Investments

AS 14 Accounting for Amalgamations

AS 15 (revised 2005) Employee Benefits

Limited Revision to Accounting Standard (AS) 15, Employee Benefits (revised 2005)

AS 15 (issued 1995)Accounting for Retirement Benefits in the Financial Statement of Employers

AS 16 Borrowing Costs

AS 17 Segment Reporting

AS 18, Related Party Disclosures

AS 19 Leases

AS 20 Earnings Per Share

AS 21 Consolidated Financial Statements

AS 22 Accounting for Taxes on Income.

AS 23 Accounting for Investments in Associates in Consolidated Financial Statements

AS 24 Discontinuing Operations

AS 25 Interim Financial Reporting

AS 26 Intangible Assets

AS 27 Financial Reporting of Interests in Joint Ventures

AS 28 Impairment of Assets

AS 29 Provisions,Contingent` Liabilities and Contingent Assets

AS 30 Financial Instruments: Recognition and Measurement and Limited Revisions to AS 2, AS 11 (revised 2003), AS 21, AS 23, AS 26, AS 27, AS 28 and AS 29

AS 31, Financial Instruments: Presentation

Accounting Standard (AS) 32, Financial Instruments: Disclosures, and limited revision to Accounting Standard (AS) 19, Leases



  • Please Note that AS-3 [Cash Flow Statements] and AS-17 [Segment Reporting] are applicable only to enterprises whose equity / debt securities are listed or in the process of listing. The said standards are also applicable to enterprises whose turnover exceeds Rs.50 crores.
  • All the above Accounting Standards are applicable for non-corporate entities and for those covered under section 44AB of the Income tax Act, 1961 EXCEPT AS-3 [Cash Flow Statements], AS-14 [Accounting for Amalgamations], AS-17 [Segment Reporting], AS-20 [Earnings per Share] and AS-21 [Consolidated Financial Statements].
  • AS-20 [Earnings per Share] is applicable to all listed companies or companies proposing listing of its equity shares. It is also applicable to companies that choses to present Earnings per Share.
  • The above Accounting Standards in the Table are available in text form at the Institute of Chartered Accountants of India's [ICAI] Website [] and in the publications of the ICAI.
  • In column 1 of AS no., the figure in bracket denotes the corresponding International Accounting Standard reference no.


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