Indian Accounting Standards already issued by the Institute of Chartered Accountants of India (ICAI) corresponding to the International Accounting Standards/International Financial Reporting Standards
Corresponding IAS has been withdrawn since the matter is now covered by IAS 16 and IAS 38
Accounting Policies, Changes in Accounting Estimates and Errors
Net Profit or Loss for the Period, Prior Period Items and Changes in Account- ing Policies
Contingencies and Events Occurring after the Balance Sheet Date
11. 12. 13. 14.
16. 17. 18.
21. 22. 23. 24.
Accounting for Government Grants and Disclosure of Government Assistance
Contingent Liabilities and Contingent Assets
Corresponding IAS has been withdrawn since the matter is now covered by IAS 32, 39 and 40 and IFRS 7
IAS 17 IAS 18 IAS 19 IAS 20
IAS 23 IAS 24 IAS 27
IAS 33 IAS 34 IAS 36 IAS 37
AS 16 AS 18 AS 21
AS 20 AS 25 AS 28 AS 29
Accounting for Invest- ments in Associates in Consolidated Financial Statements
Provisions, Contingent Liabilities and Contingent Assets
Discontinuing Operations2. Further, AS 10 deals with accounting for fixed assets retired from active use.
II. International Accounting Standard/International Financial Reporting Standard not considered relevant for issuance of Accounting Standards by the ICAI for the reasons indicated.
The Institute notes that the hyper-inflationary conditions do not
India. Accordingly, the subject is not considered relevant in the Indian context.
In India, Indian ASs are being adopted since last many years and IFRSs are not being adopted for the first time. Therefore, the IFRS 1 is not relevant to India at present.
Financial Reporting in Hyper-inflationary Eco- nomies
III. Accounting Standards Presently under preparation corresponding to the International Accounting Standards/ International Financial Reporting Standards
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