Table Of Contents
This topic covers the frequently asked questions relating to the general applicability and formation of accounting standards.
It deals with FAQs relating to specific accounting principles and the method of applying those principles adopted by the enterprise in preparation and presentation of financial statements
The standard formula the method of computation of cost of inventories, determine the value at which inventory is to be shown in the balance sheet till it is not sold and recognised as revenue
It deals with FAQs relating to the flow of incoming and outgoing cash. The standard assesses the ability of the enterprise to generate cash and to utilize cash.
This topic deals with FAQs relating to the accounting of contingencies and the events, which take place after the balance sheet date but before the approval of balance sheet by the Board of Directors
This topic deals with FAQs relating to the criteria for certain items in the profit and loss account so that the comparability of the financial statements can be enhanced
The AS deals FAQs relating to depreciation accounting & applies to all depreciable assets except some items to which special considerations apply
This AS deals with FAQs relating to the allocation of contract revenue and contract cost to the accounting period in which the construction work is performed
This AS deals with questions relating as to when the revenue should be recognized in profit & loss & also states the circumstances in which revenue can be postponed
The AS deals FAQs relating to with accounting of fixed assets except some items to which special considerations apply