A1 Indian Accounting Standards-I Bangalore University B.Com 5th Semester NEP Notes

16/11/2023 1 By indiafreenotes
Unit 1 [Book]  
Introduction, Meaning and Definition of Accounting Standards VIEW
Objectives of Accounting Standards VIEW
Benefits and Limitations of Accounting Standards VIEW
Process of Formulation of Accounting Standards in India VIEW
List of Indian Accounting Standards (Ind AS) VIEW
Need for Convergence Towards Global Standards VIEW
International Financial Reporting Standards of IFRS VIEW
Features and Merits and Demerits of IFRS VIEW
Benefits of Convergence with IFRS VIEW
Applicability of Ind AS in India VIEW


Unit 2 [Book]  
Property, Plant and Equipment (Ind AS-16) VIEW
Intangible assets (Ind AS-38) VIEW
Impairment of assets (Ind AS-36) VIEW
Inventories (Ind AS 2) VIEW
Borrowing costs (Ind AS- 23) VIEW
Investment Property (Ind AS-40) objectives, Scope, definitions Recognition, Measurement and disclosures of the above-mentioned Standards VIEW


Unit 3 [Book]  
Provisions, Contingent liabilities & Contingent Assets (Ind AS 37) Scope, provision, Liability, Obligating event, Legal obligation, constructive obligation, Contingent liability, Contingent Assets VIEW
Relationship between Provisions and Contingent liability VIEW
Disclosure of Information in the Financial Statements VIEW
Employee Benefits (Ind AS 19), Scope, Employee Benefits, Post-employment benefits, Other long term employee benefits, Termination benefits VIEW
Short-term employee benefits u/s Ind AS 19 VIEW


Unit 4 [Book]  
Revenue from Contracts with Customers (Ind AS 115), Scope VIEW
Definitions: Contract, Customer, Income, Revenue, Contract Asset VIEW
Contract Liability VIEW
Performance obligation, Transaction Price VIEW
Overview of Five Step Model, Problems VIEW


Unit 5 [Book]  
Framework for preparation of Financial Statements VIEW
Objectives of Financial Statements VIEW
Qualitative Characteristics of Financial Statements VIEW
Users of Financial Statement VIEW
Pillars of Financial Statements VIEW
Presentation of Financial Statement as per Ind AS 1 VIEW
Statement of Profit and Loss, Balance Sheet VIEW
Problems on preparation of Statement of Profit and Loss VIEW
Balance sheet & Other Comprehensive Income Statement as per Ind-As1 VIEW