From what sources might a corporation obtain funds through longterm debt. Depreciation accounting powerpoint ppt presentation. Inter accounting taxation corporate and other laws view more. Sample seminar presentation and project presentation data. Accounting standards as 2 are issued amended by the accounting standards board of icai, to establish uniform standards for preparation of financial statements, in accordance with indian gaap generally accepted accounting practices, for better understanding of the users. Relevance a principle is relevant to the extent it results in information that is meaningful and useful to the user of the accounting information. Paragraphs in bold italic type indicate the main principles. An overview revised 2019 this is the fourth edition of our earlier issued publication which contains an overview of various aspects related to indian accounting standards ind as such as roadmap for the applicability of ind as, carveouts from ifrsias, changes in financial reporting under ind as compared to financial reporting under accounting.
Revised accounting standard 21 consolidated financial statements is applicable for the accounting periods commencing on or after april 1, 2017 after considering companies accounting standards amendment rules, 2016 g. Jul 21, 2017 as 6 depreciation though an old accounting standard is considered very significant, as it affects the preparation and presentation of financial statements for all enterprises. Introduction accounting standards are written policy documents issued by. Audience this tutorial has been designed to help beginners pursuing education in financial accounting or business management. Sri lanka accounting standard slfrs 9 financial instruments sri lanka accounting standard 9 financial instruments slfrs 9 is set out in paragraphs 1. For example, tia adopted the iec 6128041 multimode fiber optic testing standards as tia52614c. Table of contents chapter 1 accounting in action chapter 2 the recording process chapter 3 adjusting the account chapter 4. Government accounting standard setting and policy making in china, the budget law and the accounting law provide the legal framework for the ministry of finance to. International accounting standards iass were issued by the antecedent international accounting standards council iasc, and endorsed and amended by the international accounting standards board iasb.
Download ebook on indian accounting standards ind as. This standard does not specify the currency in which an enterprise presents its financial statements. Accounting depreciation accounting accounting standard 6. We know that generally accepted accounting principles gaap aims at bringing uniformity and comparability in the financial statements. Accounting and auditing organization for islamic financial. Solutions manual for managerial accounting for managers 2nd edition by eric noreen.
Accounting standard as 6 revised 1994 depreciationaccounting this accounting standard includes paragraphs 2029 set in bold italic type and paragraphs 119 set in plain type, which have equal authority. Accounting standard as 6 revised, depreciation accounting, made mandatory viii. The depreciable amount of a depreciable asset should be allocated on a systematic basis to each accounting period during the useful life of the asset. Now india will have two sets of accounting standards viz. Nature of accounting policies of accounting standard 1 disclosure of accounting policies as 1 11. Government accounting standards and policies in brief. Oct 07, 2015 accounting standard 6 depreciation accounting. The accounting standard as6,depreciation accounting,issued by the 15. Accounting standards board asb set up in 1977 by icai prepares accounting standards. Manojkumar patil 28 sagar patekar 19 kamlesh gond 95 kunal sonawne 93 aabid mushrrif 01 digambar kosamkar 80 3. Accounting standards in differentnations in india, 32 accounting standards as ias under nacas as per international, there are 41 accounting standards called as ifrs adopted by 8 countries in the world 70 to 80 countries planning to adhere ifrs clause 50 added to the listing agreement mandatory 7. Table of content objective definition treatment method live example industry practice.
If it uses a different currency, this standard requires disclosure of the reason for using that currency. These accounting standards are formulated by accounting standards board of institute of chartered accountants of india. As 6 depreciation accounting applicability as 6 though an old accounting standard is considered very significant, as it affects the preparation and presentation of financial statements for all enterprises. The accounting standardas6,depreciation accounting,issued by the. The accounting policies refer to the specific accounting principles and the methods of applying those principles adopted by the enterprise in the preparation and presentation of financial statements. Presentation on accounting standard 9 mmm 20 16 group 5 presentation for financial accounting topic accounting standard 9 2. Business law and the legal environment, standard edition by jeffrey f. Presentation on accounting standard 9 linkedin slideshare. Lacpa ifrs presentation accounting standard 6 depreciation. Ifrs 6 has the effect of allowing entities adopting the standard for the first time to use accounting policies for exploration and evaluation assets that were applied before adopting ifrss. List of accounting standards as 2 of icai download pdf.
Ppt harmonization and international accounting standards. Accounting standard 6 presentation linkedin slideshare. Introduction to government and notforprofit accounting by martin ives 6 solutio manual. Ifrs 17 will give users of financial statements a whole new perspective. Ray h garrison product descriptions managerial accounting for managers, 2nd edition by noreenbrewergarrison is based on the marketleading text, managerial accounting, by garrison, noreen and. Recognized as the torch bearers of the accounting and auditing profession in sri lanka, the institute of chartered accountants of sri lanka ca sri lanka is one of the countrys foremost and largest professional organizations that has produced over 5,400 chartered accountants. Ifrs 6 exploration for and evaluation of mineral resources has the effect of allowing entities adopting the standard for the first time to use accounting policies for exploration and evaluation assets that were applied before adopting ifrss. Hello freinds today i uploaded here as 5 ppt hope it will help you in some manner accounts as. Icai is established under the chartered accountants act, 1949 act no.
Applicability of the accounting standard 6 this accounting standard is applicable to all depreciable assets except, the following. International accounting standard 12 income tax and. List of accounting standards as 2 of icai download. Pdf international accounting standard 12 income tax. With 60 million monthly visitors and million pageviews, it is amongst the most visited 200 websites in the world. Accounting standards provides rules for standard treatment and recording of transactions. As 1 disclosure of accounting policies as 2 valuation of inventories as 3 cash flow statements as 4 contingencies and events occurring after the balance sheet date as 5 net profit or loss for the period,prior period items and changes in accounting. Besides presentations, slideshare also supports documents, pdfs, videos and webinars.
K international accounting standards committee foundation, 2003, paras. New insurance contracts standard introducing ifrs 17. Accounting standard 10 as 10 property, plant and equipment. Icai the institute of chartered accountants of india. Ppt depreciation accounting powerpoint presentation free to. However, an enterprise normally uses the currency of the country in which it is domiciled. Here we are also providing download links of this as 6 depreciation ppt and pdf format. Accounting standards in different nations as per international system, there are 41 accounting standards called as ifrs adopted by 8 countries in the world 70 to 80 countries planning to adhere ifrs 6. The revenue recognition principle for the newly released standard. Where a construction contract is a contract specifically negotiated for the construction of an asset or combination of assets. For the same reason, as 6 is made applicable to all level of. Ppt accounting principles 12th edition weygandt, kimmel. This accounting standard should be read in the context of the preface to the statements of accounting standards.
The objective of this standard is to prescribe the accounting treatment for property, plant and equipment ppe. As 6 is applicable to all depreciable assets, except the following. Evolution and types of accounting standards accounting standards initiation 1. Dis closure of accounting policies all significant accounting policies. The accounting policies refer to the specific accounting principles and the methods of applying those principles adopted by the enterprise in the. Solution manual for accounting principles 12th edition by weygandt accounting principles 12th edition solutions pdf accounting principles 12th edition weygandt pdf free.
Aug 24, 20 accounting standard 6 and 10 slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Ppt accounting principles 12th edition weygandt, kimmel, and. Accounting standards are the ruling authority in the world of accounting. Dis closure of accounting policies all significant accounting policies adopted should be disclosed. In view of the applicability of the accounting standards and exemptionsrelaxations for smes, the necessary modifications have been made in as 3, as 17, as 18, as 19, as 20, as 24 and as 28, coming into effect in respect of accounting periods commencing on or after 142004. Ifrs 6 exploration for and evaluation of mineral resources. New insurance contracts standard introducing ifrs 17 kpmg. Dec 14, 2017 depreciation accounting accounting standard6 cpt. Revised accounting standard 21 consolidated financial. As 6 depreciation accounting notes ppt icai superprofs.
Accounting standard6 depreciation accounting powerpoint ppt presentation. This standard was first issued in november 1985 and made mandatory from. This standard deals with accounting for investments in the financial statements of enterprises and related disclosure requirements. If you continue browsing the site, you agree to the use of cookies on this website. Apr 16, 2020 accounting standard 10 as 10 accounting for fixed assets. Accounting standard 6 depreciation accounting as 6 20. In previous post we have given download all accounting standards for ca,cwacma,cs exams and as 2 valuation of inventories revised notes. It also modifies impairment testing of exploration and evaluation assets by introducing different impairment indicators and allowing the carrying amount to be tested at an aggregate level not greater than. Ifrs group 4 kanika virmani, p146 ankit goel, p124 aviral bansal, p5 avishek dasgupta, p6 sandeep chatterjee, p165 shashank shukla, p166. Accounting standard sample seminar presentation and project.
The depreciation method selected should be applied consistently from period to period. Government accounting standards and policies james l. There are 32 as in india as on date the main objective of accounting standards is to standardise the different accounting policies and practices followed by different business concerns 3. List of accounting standards as 2 of icai download pdf copy. Novartis group che has issued various types of bonds such as. Accounting standard 9 group 5 members in order of presentation name roll no. Accounting standard, accounting standards, as, as 6, depreciation accounting, indas, indian accounting. Power point slides accounting principles, 12th edition pengarang. Accounting standard 6 depreciation accounting youtube. If so, share your ppt presentation slides online with. International accounting standard 12income tax regulates accounting methodic of profit tax and demands that the enterprises must account the deferred tax asset and the deferred tax liability. Read this article to learn about the concept, meaning, nature and objectives of accounting standards.
The institute provides leadership and insight to the accountancy and finance profession in sri lanka as well as. It can be seen that at many places, gaap permits a variety of alternative accounting treatments for. Accounting for construction contract as7 revised2002 1 applicability of the standard applied in accounting for construction contracts in the financial statements of contractors. Slideshare is the worlds largest community for sharing presentations. Oct 11, 2016 revised accounting standard 21 consolidated financial statements is applicable for the accounting periods commencing on or after april 1, 2017 after considering companies accounting standards amendment rules, 2016 g. The iasb will also reissue standards in this series where it considers it appropriate. Financial accounting i about the tutorial this tutorial will help you understand the basics of financial accounting and its associated terminologies. Solutions manual for managerial accounting for managers. The ifrs foundations logo and the ifrs for smes logo, the iasb logo, the hexagon device, eifrs, ias, iasb, ifric, ifrs, ifrs for smes, ifrs foundation, international accounting standards, international financial reporting standards, niif and sic are registered trade marks of the ifrs foundation, further details of which are available from the ifrs. Harmonization and international accounting standards is the property of its rightful owner. Accounting standards controller general of accounts. Accounting is considered as the language of business. Cost accounting direct taxation laws and ethics view more. Today we are providing as 6 depreciation best summary notes.
Icai the institute of chartered accountants of india set up by an act of parliament. For the same reason, as 6 is made applicable to all level of enterprises i. Sep 02, 2017 power point slides accounting principles, 12th edition pengarang. Under ias 16, if subsequent costs are incurred for replacement of a part of an item of fixed assets, such costs are required to be capitalized. As 6 depreciation accounting applicability as 6 though an old accounting standard is considered very significant, as it affects the. The accounting and auditing organization for islamic financial institutionsaaoifi is an islamic international autonomous nonforprofit corporate body that prepares accounting, auditing, governance, ethics and sharia standards for islamic financial institutions and the industry. Mandatory application of accounting standards in respect of tax audit under section 44ab of the income tax act, 1961 vii. The new insurance contracts standard ifrs 17 brings fundamental changes to international insurance accounting. Accounting standard 6 depreciation accounting presentad by. The ways in which analysts interpret and compare companies internationally will change. Chan and qi zhang in the public financial management cycle, accounting follows budgeting and precedes auditing to produce financial information useful for understanding and assessing a governments financial conditions. Accounting standards bombay chartered accountants society. As6 is applicable to all depreciable assets, except the following. Standards update the four as of harmonization when tia adopts an iec standard, or vice versa, it quite literally means that they take on and follow the standard.
Mar 26, 20 accounting taxation corporate and other laws. Revised accounting standard 21 consolidated financial statements. It makes sure that the information provided to potential investors is not misleading in any way. Solution manual for accounting principles 12th edition by. Mandatory application of accounting standards in respect of certain noncorporate bodies vi.
261 442 167 1417 881 694 1098 306 128 146 630 1188 1292 1461 1561 438 1077 982 1374 62 733 686 1520 790 973 413 453 938 1291 984 350 954 1425 1233 688 755 921 474 1378 487 198 358 864 1089 1433 261 730