Nepal Accounting Standards

As per the decision of the Council, the following Nepal Accounting Standards have been made
Mandatory for Compliances.

Effective
Revised
S.No. NASs IASs Name Date
Date
(Original)
Framework for the Preparation and Presentation
of Financial Statements
1 Shrawan 1 Shrawan
2061 2065
1 1 1 Presentation of Financial Statements
(16 July (16 July
2004) 2008)
1 Shrawan 1 Shrawan
Accounting Policies, Changes Accounting 2061 2065
2 2 8
Estimates & Errors (16 July (16 July
2004) 2008)
1 Shrawan 1 Shrawan
2061 2065
3 3 7 Cash Flow Statements
(16 July (16 July
2004) 2008)
1 Shrawan 1 Shrawan
2061 2065
4 4 2 Inventories
(16 July (16 July
2004) 2008)
1 Shrawan 1 Shrawan
2061 2065
5 5 10 Events After the Balance Sheet Date
(16 July (16 July
2004) 2008)
1 Shrawan 1 Shrawan
2061 2065
6 6 16 Property, Plant and Equipment
(16 July (16 July
2004) 2008)
1 Shrawan 1 Shrawan
2062 2065
7 7 18 Revenue
(16 July (16 July
2005) 2008)
1 Shrawan 1 Shrawan
2062 2065
8 8 23 Borrowing Costs
(16 July (16 July
2005) 2008)
 1 Shrawan
2064
9 9 12 Income Taxes
(16 July
2007)
1 Shrawan 1 Shrawan
Accounting for Government Grants and 2063 2065
10 10 20
Disclosure of Government Assistance (16 July (16 July
2006) 2008)
1 Shrawan 1 Shrawan
The Effects of Changes in Foreign Exchange 2063 2065
11 11 21
Rates (16 July (16 July
2006) 2008)
1 Shrawan 1 Shrawan
Provisions, Contingent Liabilities and 2063 2065
12 12 37
Contingent Assets (16 July (16 July
2006) 2008)
1 Shrawan 1 Shrawan
2063 2065
13 13 11 Construction Contract
(16 July (16 July
2006) 2008)
1 Shrawan 1 Shrawan
2064 2065
14 15 17 Leases
(17 July (16 July
2007) 2008)
1 Shrawan 1 Shrawan
2064 2065
15 16 24 Related Party Disclosures
(17 July (16 July
2007) 2008)
1 Shrawan 1 Shrawan
2064 2065
16 17 34 Interim Financial Reporting
(17 July (16 July
2007) 2008)
1 Shrawan 6 Shrawan
2064 2064
17 18 36 Impairment of Assets
(17 July (22 July
2007) 2007)
1 Shrawan 6 Shrawan
2064 2064
18 19 40 Investment Property
(17 July (22 July
2007) 2007)
1 Shrawan 6 Shrawan
IFRS Non-current Assets Held for Sale and 2064 2064
19 20
5 Discontinued Operations (17 July (22 July
2007) 2007)
The following Nepal Accounting Standards are for voluntary compliances:

Effective Date
S.No. NASs IASs Name Effective Date
(Original)
1 Shrawan 6 Shrawan
1 14 19 Employee Benefits 2064 2064
(17 July 2007) (22 July 2007)
1 Shrawan 6 Shrawan
IFRS
2 21 Business Combinations 2064 2064
3
(17 July 2007) (22 July 2007)
1 Shrawan 6 Shrawan
3 23 14 Segment Reporting 2064 2064
(17 July 2007) (22 July 2007)
24 Magh, 2064 24 Magh, 2064
Accounting and Reporting by Retirement
4 24 26 (7February (7February
Benefit Plans
2008) 2008)
1 Shrawan 6 Shrawan
5 25 28 Investment in Associates 2064 2064
(17 July 2007) (22 July 2007)
1 Shrawan 6 Shrawan
6 26 33 Earning per Share 2064 2064
(17 July 2007) (22 July 2007)
1 Shrawan 6 Shrawan
7 27 38 Intangible Assets 2064 2064
(17 July 2007) (22 July 2007)