A warm welcome to the International Accounting Standards (AS) course by Uplatz.

Accounting Standards (AS) refer to the general guidelines and standards for financial reporting. A company's financial statements can be prepared using Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).

An accounting standard is application to a company’s financial reporting. A few popular examples of accounting standards are segment reporting, goodwill accounting, an allowable method for depreciation, business combination, lease classification, a measure of outstanding share, and revenue recognition.

The Generally Accepted Accounting Principles (GAAP), commonly referred as International Accounting Standards, are the primary accounting standards adopted by the U.S. Securities and Exchange Commission (SEC). GAAPs were designated in the United States and form the basis of accepted accounting standards for preparing and reporting financial statements across the world.

The International Accounting Standards Board (IASB) provides rule-based and principle-based accounting guidelines for international companies that are based outside the U.S. The International Accounting Standards (IAS) are intended to achieve the uniformity of approach and identity of meaning. Accounting standards of a specific country are strongly influenced by its governance arrangement and tax policy.

In essence, an accounting standard is a common set of principles, standards and procedures that define the basis of financial accounting policies and practices. Accounting standards improve the transparency of financial reporting in all countries. In the United States, the Generally Accepted Accounting Principles form the set of accounting standards widely accepted for preparing financial statements. International companies follow the International Financial Reporting Standards, which are set by the International Accounting Standards Board and serve as the guideline for non-U.S. GAAP companies reporting financial statements.

Accounting Standards (AS) have the following characteristics, to name a few:

• An accounting standard is a common set of principles, standards, and procedures that define the basis of financial accounting policies and practices.

• Accounting standards apply to the full breadth of a entity’s financial picture, including assets, liabilities, revenue, expenses and shareholders' equity.

• Banks, investors, and regulatory agencies, count on accounting standards to ensure information about a given entity is relevant and accurate.

Accounting standards relate to all aspects of an entity’s finances, including assets, liabilities, revenue, expenses and shareholders' equity. Specific examples of an accounting standard include revenue recognition, asset classification, allowable methods for depreciation, what is considered depreciable, lease classifications and outstanding share measurement.

This is an in-depth training on Accounting Standards provided by Uplatz. The course starts with a general introduction of AS and proceeds with comprehensive explanation of each Accounting Standard (AS 1 to AS29) with practical examples and industry scenarios demonstrated for each AS.

This Accounting Standards course is absolutely a right course for you if you wish to learn the concepts of Accounting Standards.

The Accounting Standards training will help you gain significant edge in the understanding of AS and knowing how to apply them practically for different cases. This will help you become a successful Finance & Tax Consultant, or to prepare for the Chartered Accountant (CA) exams including CA, CFA, CS, and others.

Accounting Standards (AS) - Course Syllabus

• Introduction of AS

• Applicability of AS

• List of AS

  thorough discussion on all the AS (Applicability, Objectives, Scope, Definitions, Reconciliations, Measurement, Disclosures etc)

• AS 1 Disclosure of Accounting Principles

• 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 Policies

• AS 6 Depreciation accounting stands withdrawn

• AS 7 Construction Contracts (Revised 2002)

• AS 9 Revenue Recognition

• AS 10 Property, Plant and Equipment

• AS 11 The Effects Of Changes In Foreign Exchange Rates (Revised 2003)

• AS 12 Accounting for Government Grants

• AS 13 Accounting for Investments

• AS 14 Accounting for Amalgamations

• AS 15 Employee Benefits (Revised 2005)

• AS 16 Borrowing Costs

• AS 17 Segment Reporting

• AS 18 Related Party Disclosures

• AS 19 Leases

• AS 20 Earnings Per Share

• AS 21 Consolidated Financial Statements

• AS 22 Accounting for taxes on income

• AS 23 Accounting for Investments in Associates in Consolidated Financial Statements

• AS 24 Discontinuing Operations

• AS 25 Interim Financial Reporting

• AS 26 Intangible Assets

• AS 27 Financial Reporting of Interests in Joint Ventures

• AS 28 Impairment of Assets

• AS 29 Provisions, Contingent Liabilities and Contingent Assets

• AS 30, 31, 32 withdrawn