AS-28Impairment of AssetsAS-29Provisions, Contingent Liabilities and Contingent AssetsAS-30
Financial Instruments: Recognition and Measurement
AS 31Financial Instruments: PresentationAS 32Financial Instruments: Disclosures
Applicability of Accounting Standards:
A three tier classification has been framed to ensure compliance of accounting standards forreporting enterprises.
Level I Enterprises:
Enterprises whose equity or debt securities are listed whether in India or outside India.
Enterprises which are in the process of listing their equity or debt securities as evidencedby the Board resolution in this regard.
Banks including co-operative banks
Enterprises carrying insurance business
Enterprises whose turnover exceeds Rs.50 crores
Enterprises having borrowings in excess of Rs.10 crores at any time during the account-ing period.
Holding companies and subsidiaries of enterprises falling under any one of the catego-ries mentioned above.
Level II Enterprises:
Enterprises whose turnover exceeds Rs.40 lakhs but does not exceed Rs.50 crores.
Enterprises having borrowings in excess of Rs.1 crore but not in excess of Rs.10 crores atany time during the accounting period.
Holding companies and subsidiaries of enterprise falling under any one of the catego-ries mentioned above.