accounting policies

AS 1: Accounting policy disclosure

AS 1, or accounting standard 1, covers the disclosure of accounting policies in preparing financial statements. Why it’s important to disclose accounting policies Accounting policies differ between enterprises, and the…

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AS 19: Leases

AS 19 coves the policies for accounting in regards to leases. What is a lease? According to the accounting standard, a lease is a transactional agreement between the lessor and…

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AS 18: Party Disclosures

Accounting standard 18 deals with the requirements for the disclosure of the following: Related party relationships and the transactions made between a reporting enterprise, and The transactions made between a…

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AS 17

AS 17 Segment Reporting

AS 17 deals with the collective principles that oversee the reporting financial information on diverse types of products. The accounting standard helps readers grasp the well-being of the enterprise, assess…

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borrowing cost

Borrowing Costs and AS 16

AS 16, effective in April 2000, is mandatory in all enterprises, related only to External Borrowings, and steers clear of any costs associated with raising Equity of Convertible Preference Shares….

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AS 15 and Employee Benefits

This article details AS 15 and how it applies to enterprises, benefits for employees, short-term benefits, benefits on termination and treatment for accounting. AS 15 is the accounting standard covering…

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AS 15 on Employee Benefits

AS 15 is the accounting standard covering Employee Benefits. The standard takes care of all types of benefits for employers excluding inventory compensation. How AS 15 applies The standard, passed…

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Investment Accounting

AS 13 Investment Accounting

Accounting Standard 13 is used across the board. This standard deals with financial statements and accounting prepared by a company and prescribes disclosure requirements. How AS 13 applies The standard,…

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AS 11 and How Foreign Exchange Rates Affect Change

There’s more than one way for businesses to facilitate a foreign exchange transaction. Every business needs to make sure it processes all foreign operations and currency transactions in the right…

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