Accounting Standard Contents About the Author I-5 Preface I-7 PART I INDIAN ACCOUNTING STANDARDS (ASs) CHAPTER 1 : ACCOUNTING STANDARDS - APPLICABILITY AND SUMMARY 3 CHAPTER 2 : AS 1 - DISCLOSURE OF ACCOUNTING POLICIES 12 CHAPTER 3 : AS 2 - INVENTORIES 23 CHAPTER 4 : AS 3 - CASH FLOW STATEMENTS 42 CHAPTER 5 : AS 4 - CONTINGENCIES AND EVENTS OCCURRING AFTER THE BALANCE SHEET DATE 55 CHAPTER 6 : AS 5 - ACCOUNTING POLICIES, CHANGES IN ACCOUNTING ESTIMATES AND ERRORS 66 CHAPTER 7 : AS 10 - FIXED ASSETS ACCOUNTING & AS 6 DEPRECIATION ACCOUNTING 78 CHAPTER 8 : AS 7 - CONSTRUCTION CONTRACTS 108 CHAPTER 9 : AS 9 - REVENUE RECOGNITION 122 CHAPTER 10 : AS 11 - EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATES 138 CHAPTER 11 : AS 12 - ACCOUNTING FOR GOVERNMENT GRANTS 157 CHAPTER 12 : AS 13 - ACCOUNTING FOR INVESTMENT 167 CHAPTER 13 : AS 14 - ACCOUNTING FOR AMALGAMATIONS 176 CHAPTER 14 : AS 15 - EMPLOYEE BENEFITS 184 CHAPTER 15 : AS 16 - BORROWING COSTS 202 CHAPTER 16 : AS 17 - SEGMENT REPORTING 217 CHAPTER 17 : AS 18 - RELATED PARTY DISCLOSURES 226 I-9
I-10 CONTENTS CHAPTER 18 : AS 19 - LEASES 232 CHAPTER 19 : AS 20 - EARNINGS PER SHARE 264 CHAPTER 20 : AS 21 - CONSOLIDATED FINANCIAL STATEMENTS 281 CHAPTER 21 : AS 23 - ACCOUNTING FOR INVESTMENT IN ASSOCIATES IN CONSOLIDATED FINANCIAL STATEMENTS 295 CHAPTER 22 : AS 27 - FINANCIAL REPORTING OF INTERESTS IN JOINT VENTURES 307 CHAPTER 23 : AS 22 : ACCOUNTING FOR TAXES ON INCOME 322 CHAPTER 24 : AS 24 : DISCONTINUING OPERATIONS 338 CHAPTER 25 : AS 25 : INTERIM FINANCIAL REPORTING 344 CHAPTER 26 : AS 26 - INTANGIBLE ASSETS 356 CHAPTER 27 : AS 28 - IMPAIRMENT OF ASSETS 380 CHAPTER 28 : AS 29 - PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS 407 PART II FINANCIAL INSTRUMENT: RECOGNITION AND MEASUREMENT, PRESENTATION AND DISCLOSURES CHAPTER 29 : CHAPTER 30 : FINANCIAL INSTRUMENTS, FINANCIAL ASSETS AND LIABILITIES 427 DERIVATIVES AND COMPOUND FINANCIAL INSTRUMENTS 449 CHAPTER 31 : HEDGE ACCOUNTING 469 CHAPTER 32 : DISCLOSURE REQUIREMENTS OF FINANCIAL INSTRUMENTS 478 PART III GUIDANCE NOTES (FROM INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA) CHAPTER 33 : GUIDANCE NOTES OF ICAI 485 CHAPTER 34 : GUIDANCE NOTE ON SHARE BASED PAYMENTS 494 CHAPTER 35 : OTHER GUIDANCE NOTES 535 PART IV REVISED SCHEDULE VI CHAPTER 36 : GENERAL 543
CONTENTS I-11 CHAPTER 37 : OPERATING CYCLE AND CLASSIFICATION BETWEEN CURRENT AND NON-CURRENT 557 CHAPTER 38 : SHAREHOLDERS FUNDS 567 CHAPTER 39 : NON-CURRENT LIABILITIES 583 CHAPTER 40 : CURRENT LIABILITIES 589 CHAPTER 41 : NON-CURRENT ASSETS 593 CHAPTER 42 : CURRENT ASSETS 607 CHAPTER 43 : CONTINGENT LIABILITIES 615 CHAPTER 44 : STATEMENT OF PROFIT AND LOSS 619 CHAPTER 45 : CASH FLOW STATEMENT AND OTHER DISCLOSURES 646 ANNEXURES ANNEXURE I : FINANCIAL REPORTING : CA FINAL : NOVEMBER 2011 659 ANNEXURE II : FINANCIAL REPORTING : CA FINAL : MAY 2012 668 ANNEXURE III : FINANCIAL REPORTING : CA FINAL : NOVEMBER 2012 677 ANNEXURE IV : FINANCIAL REPORTING : CA FINAL : MAY 2013 683 ANNEXURE V : FINANCIAL REPORTING : CA FINAL : NOVEMBER 2013 691
Financial Reporting Contents About the Author I-5 Preface I-7 PART I CORPORATE FINANCIAL REPORTING CHAPTER 1 : CORPORATE FINANCIAL REPORTING - AN INTRODUCTION 3 CHAPTER 2 : ADVENT OF FINANCIAL REPORTING IN INDIAN CONTEXT 10 PART II VALUATION CHAPTER 3 : GENERAL APPROACH AND DIFFERENT BASES OF VALUATION 23 CHAPTER 4 : VALUATION OF TANGIBLE ASSETS 26 CHAPTER 5 : VALUATION OF INTANGIBLE ASSETS 30 CHAPTER 6 : VALUATION OF GOODWILL 33 CHAPTER 7 : VALUATION OF SHARES 75 CHAPTER 8 : VALUATION OF BRAND 108 CHAPTER 9 : VALUATION OF LIABILITIES AND PROVISIONS 113 CHAPTER 10 : VALUATION OF BUSINESS 114 PART III ACCOUNTING FOR CORPORATE RESTRUCTURING CHAPTER 11 : CORPORATE RESTRUCTURING - AN INTRODUCTION 129 CHAPTER 12 : DETERMINATION AND DISCHARGE OF PURCHASE CONSIDERATION 131 I-9
I-10 CONTENTS CHAPTER 13 : AMALGAMATION 144 CHAPTER 14 : ABSORPTION 214 CHAPTER 15 : BUY BACK OF SHARES 272 CHAPTER 16 : RESTRUCTURING - SALE/PURCHASE OF DIVISION/ DEMERGER 280 CHAPTER 17 : INTERNAL RECONSTRUCTION 318 PART IV CONSOLIDATED FINANCIAL STATEMENTS OF GROUP COMPANIES CHAPTER 18 : CHAPTER 19 : CHAPTER 20 : CHAPTER 21 : CHAPTER 22 : BASIC CONCEPTS ON CONSOLIDATION OF FINANCIAL STATEMENTS 333 CONSOLIDATION OF HOLDING COMPANY WITH ONE SUBSIDIARY 382 CHAIN HOLDING : CONSOLIDATION OF HOLDING COMPANY WITH MORE THAN ONE SUBSIDIARY AND INTERCOMPANY HOLDINGS 456 CONSOLIDATED PROFIT AND LOSS AND CONSOLIDATED CASH FLOW 532 CONSOLIDATION OF PARENT WITH ONE SUBSIDIARY AND ASSOCIATE AND/OR JOINT VENTURES OR JOINTLY CONTROLLED ENTITIES 539 PART V FINANCIAL REPORTING OF FINANCIAL INSTITUTIONS CHAPTER 23 : MUTUAL FUNDS 565 CHAPTER 24 : NON-BANKING FINANCE COMPANIES 575 CHAPTER 25 : MERCHANT BANKERS AND STOCK MARKET INTERMEDIARIES 583 PART VI DEVELOPMENTS IN FINANCIAL REPORTING CHAPTER 26 : VALUE ADDED STATEMENT 587 CHAPTER 27 : ECONOMIC VALUE ADDED & MARKET VALUE ADDED 616 CHAPTER 28 : HUMAN RESOURCE ACCOUNTING 629
CONTENTS I-11 ANNEXURES ANNEXURE I : FINANCIAL REPORTING : CA FINAL : NOVEMBER 2011 639 ANNEXURE II : FINANCIAL REPORTING : CA FINAL : MAY 2012 656 ANNEXURE III : FINANCIAL REPORTING : CA FINAL : NOVEMBER 2012 673 ANNEXURE IV : FINANCIAL REPORTING : CA FINAL : MAY 2013 689 ANNEXURE V : FINANCIAL REPORTING : CA FINAL : NOVEMBER 2013 703