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Knowledge Sharing

With the issuance of new accounting standards, it has been decided to issue background material for seminars on newly issued accounting standards. The objective of the background material is to generate discussion in the seminars to assist the participants in understanding the requirements of the accounting standards for effective implementation thereof. It is also decided to make the background material available for sale. In this process, the background material on following Accounting Standards (ASs) have been released:

  1. AS 16, Borrowing Costs (Price Rs. 30; Pp. 40)

  2. AS 17, Segment Reporting (Price Rs. 50; Pp. 101)

  3. AS 18, Related Party Disclosures (Price Rs. 30; Pp. 45),

  4. AS 19, Leases (Price Rs. 40; Pp. 69),

  5. AS 20, Earnings Per Share (Price Rs. 40; Pp. 62),

  6. AS 21, Consolidated Financial Statements (Price Rs. 30; Pp. 51), and

  7. AS 22, Accounting for Taxes on Income (Price Rs. 40; Pp. 71)

  8. AS 23, Accounting for Investments in Associates in Consolidated Financial Statements (Price Rs. 30; Pp. 47).

The above publications contain

  • Key requirements of respective standards explained with examples,

  • Frequently asked questions (FAQs),

  • Comparison of the relevant standard with the corresponding International Accounting Standard and the Statement of Financial Accounting Standard issued by the Financial Accounting Standards Board in USA,

  • Text of relevant standard, and

  • Clarification(s)/Interpretation(s) issued on the respective standards.

The above publications are very useful in understanding and implementing the respective accounting standards in practical situations.

Persons who desire to obtain above publications by post may send Demand Draft in favour of the Secretary, ICAI, for the cost of the background material plus the postal charges (Rs. 19, if desired by unregistered parcel; Rs. 36 if required by registered parcel).

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