AS 1 - Disclosure of Accounting Policies This video is for the Revision of AS - 1 Disclosure of Accounting Policies. We will discuss the definition, fundamental accounting assumptions, selection of accounting policies and changes in accounting policies. This video will be really helpful for revision. This video is also applicable to ICWA / CS and all students doing Accounts....
Financial Instrument : Contract between 2 parties which creates financial asset for one entity and financial liability or equity for another entity. Definitions on Financial Assets, Financial Liabilities, Equity and Derivatives.
Financial Instrument : Contract between 2 parties which creates financial asset for one entity and financial liability or equity for another entity. Definitions on Financial Assets, Financial Liabilities, Equity and Derivatives.
IND AS 103 - It covers all transactions and events that meets the definition of Business Combination. Business Combination : When one Entity Acquires control over the business of other entity. Business : Integrated set of activities and assets, capable of being managed and conducted, to provide an output in form of dividend, lower cost and other economic benefit...
IND AS 16 - Property, Plant and Equipment Definition : They are tangible Assets, which are held for production or for supply of goods and services, for rentals or for administrative purpose and held for more than one period. Recognition : When it is certain that future economic benefit will arrive to the entity and when the cost is...
IND AS 2 - Inventories Definition - Are Assets that are 1. Raw Material 2. Work in Progress 3. Finished Goods Measurement - Should be measured at Cost or NRV Whichever is less Valuation - FIFO , Weighted Average, Standard Costing, Retail Inventory Disclosure : Policy, Carrying Amount, Units, Valuation technique, Pledge
It's a 5 point plan to study Financial reporting for CA Final. It includes the sequence in which chapters should be revised. It also discusses various other materials required to complete financial reporting and get maximum marks in the subject.
CHAPTER DESIGN OBJECTIVE SCOPE DEFINITIONS MEASUREMENT OF INVENTORIES COST OF INVENTORY NET REALIZABLE VALUE INVENTORY VALUATION TECHNIQUES RECOGNITION AS EXPENSES DISCLOSURE OBJECTIVE : The objective of this standard is to Prescribe accounting treatment for inventory Guidance on measurement of its cost Recognition as an...
ACCOUNTING POLICIES : 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. OBJECTIVE OF AS 1 : Accounting standard cannot and do not cover all possible areas of accounting and enterprise have reasonable degree of freedom in adopting...
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