Framework for the Preparation and Presentation of. Financial Statements. Accounting Standards (ASs). AS 1 Disclosure of Accounting Policies. For Class 11 to NCERT Accountancy Books for Class 11 Part-1 (English Medium) Download NCERT Book Tips: . AS 1 Disclosure of Accounting Policies As AS 2 Inventory Valuation As 2. doc AS 3 Cash flow sta. of our privacy policy. SURYA- "The Hindi Version Of Sun" > Sections > Download Accounting Standards AS 4 (As (kB).

Accounting Standards In Hindi Pdf

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international financial reporting standards presention in hindi - Accounts. and are closely related to our standard of living. TYPES OF ACCOUNTING. The financial literature classifies accounting into two broad categories, viz. Cost Accounting. SM:1 - Lesson 1 - 10 in Hindi. Click Cost accounting Hindi medium Partpdf link to view the file.

Classification of Enterprises

Depreciation Amortization Depreciate means to lose the value of an asset due to their usage, wear and tear, outdated, etc. The purpose of calculating depreciation costs recovery The easiest way to calculate depreciation is to know the loss of value of an asset over its life.

Amortize means to write off or pay the debt over a period of time.

Amortization can be for loans, or it can be for Intangible assets Amortization cost is calculated in terms of intangible assets like goodwill, trademark, loans, patents, etc. Financial statement of the company includes various information like Balance Sheet Assets, liabilities, and equity Income statement Profit or Loss statement Equity statement Cash flow statement 96 What is working capital?

Working capital is a financial metric that calculates the resources available to the company to finance its day-to-day operations. It is typically calculated by deducting current liabilities from current assets.

Competitive Exams Accounting Standards in India

A ledger can be referred to as an accounting book that keeps the record of journal entries in chronological order to individual accounts. The process of recording this journal entries is known as posting. S companies all over the U. This article needs additional citations for verification.

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Selected accounts. Accounting standards. Financial statements.

Financial Internal Firms Report. People and organizations. Because time of completing contract is more than the time of accounting period.

So, ICAI makes some rules and regulation that should be adopt in the business relating to construction. Construction Company should identify all their resources of revenue.

It may be fixed at the time of contract or it may be cost plus profit basis. So, it is necessary to make contract account statement in which all revenue of construction business must be shown.

Costs of contract comprise all raw material labour and other expenses which incurred for completing of contact. These costs should also calculate and deduct from revenue for calculating net earning from each contract. Accounting standard 8 AS 8 : Accounting for research and development : Research and development is important department of any company.

AS 8 cares its accounting treatment and related to calculate its proper cost and charging on profit and loss account. For this company's accountant should see what will company gets future benefits and how many years will company get these profits. On this estimation, company will charge written off cost to debit side of profit and loss account and rest amount of deferred expenditure of research and development will be shown in balance sheet's asset side under miscellaneous expenditures.

Accounting Standard 9 AS 9 : Revenue recognition: Accounting standard of India explains the concept of revenue deeply. When goods are sold or services rendered.

At this time it is deemed that money is earned by enterprise. There is also revenue from interest, royalty and dividend. Revenue recognition standard comprises different earning relating to advertising and other services projects when these are completed by professionals.

But this standard also provides guidance about revenue recognition in following cases. If stock is sold on approval basis then, revenue is generated only when the downloader gives the approval.

In case of agency business revenue will be recognized when risk of ownership also transferred under consignment. Accounting Standard 10 AS 10 : Accounting of fixed assets : Accounting standard 10 of ICAI helps professional accountants for proper accounting treatment of fixed assets. New extension of fixed assets: Any new extensions are capital nature expenditure and it will include in the total value of respective fixed assets.

(Hindi) Learning Accounting Standards in the Simplest Way

Goodwill is also treated as fixed asset in balance sheet if the amount is for this paid. In fixed assets, Enterprise will also include the amount of know how and patents.Considerations in the Selection of Accounting Policies For this purpose, the major considerations governing the selection and application of accounting policies are: BCOM Notes : The Bachelor of Commerce course structure results in a flexible degree that allows students to explore different fields of study in business and economics as well as other complimentary disciplines.

Materiality Financial statements should disclose all "material" items, i.

Double entry accounting is an accounting system that requires recording business transaction or event in at least two accounts. Depreciation must be charged on fixed assets which is used in business for more than one year. Rate of depreciation should be according to company law and if it is not written in it then companies are free to charge depreciation with appropriate rate of depreciation.

For example, if a company takes a loan from a bank, it receives cash as an asset but at the same time, it creates a liability on a company. Any contingencies like loss by fire or liabilities due to employee's accident should be provided in financial statement after these contingencies losses are confirmed.

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