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Ind AS 1, Presentation of Financial Statements and existing AS 1 (issued 1979), Disclosure of Accounting Policies

Ind AS 1 generally deals with presentation of financial statements, whereas existing AS 1 (issued1979) deals only with the disclosure of accounting policies. The scope of Ind AS 1 is thus much …

Ind AS 2- Inventories and existing AS 2- Valuation of Inventories

(i)          Ind AS 2 deals with the subsequent recognition of cost/carrying amount of inventories as an expense, whereas the existing AS 2 does not provide the same (refer paragraphs 1 and 34 …

Indian Accounting: Classification of Costs:

Indian Accounting: Classification of Costs:
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