Accounting Standards A Complete Study For Ca/Cma/Cs
Last updated 10/2021
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Course on Accounting Standards for CA / CMA / CS / MBA / M Com / B Com Students

What you'll learn
Theory and Practice of Accounting Standards

Requirements
Basic knowledge of Accounting

Description
Welcome to this course "Accounting Standards A Complete Study"
The objective of this course is to have a complete overview of theory and practice of Accounting Standards issued by Institute of Chartered Accountants of India. In this course, i have taken efforts to explain each and every part of Accounting Standards and they will be supported by case studies as well.
Knowledge of Accounting Standards is very essential from Examination perspective as well from Practical angle. Because, Accounting Standards significantly influence the way Financial Statements are prepared and presented. Students pursuing professional courses like Chartered Accountancy, Cost and Management Accountancy, Company Secretaryship, etc. should have through knowledge of Accounting Standards.
I will be covering following Accounting Standards in this course
AS 1 Disclosure of Accounting Policies
AS 2 Valuation of Inventories
AS 3 Cash Flow Statements
AS 4 Contingencies and events occuring after Balance Sheet Date
AS 5 Net Profit or Loss for the period, Prior period items and Changes in Accounting Policies
AS 9 Revenue Recognition
AS 10 Property, Plant and Equipment
AS 11 Effects of Changes in Foreign Exchange Rates
AS 12 Accounting for Government Grants
AS 13 Accounting for Investments
AS 16 Borrowing Costs
AS 17 Segment Reporting
AS 22 Accounting for Taxes on Income
This course is structured in self paced learning style. You can learn these number crunching topics at your own pace. Use head phone, have note pad / excel opened to scribble or take note of what you are learning.
Wish you a happy learning.

Overview

Section 1: Introduction

Lecture 1 Welcome Lecture

Section 2: AS 1 DISCLOSURE OF ACCOUNTING POLICIES

Lecture 2 Introduction to AS 1 Disclosure of Accounting Policies

Lecture 3 Fundamental Accounting Assumptions

Lecture 4 Accounting Policies

Lecture 5 Going Concern Assumption Case Study

Section 3: AS 2 VALUATION OF INVENTORY

Lecture 6 AS 2 Introduction

Lecture 7 Items excluded from scope of AS 2

Lecture 8 Types of Inventory

Lecture 9 Inventory cost ascertainment

Lecture 10 Valuation of Inventory

Lecture 11 Measurement of Inventory

Lecture 12 Cost of Inventory

Lecture 13 Joint Products or Byproducts

Lecture 14 Cost Formula

Lecture 15 Other Techniques of Cost Measurement

Lecture 16 Net Realisable Value

Lecture 17 Disclosure Requirements

Lecture 18 Value of Inventory Case Study

Lecture 19 Treatment of Fixed Overheads Case Study

Lecture 20 Computation of Cost of Inventory Case Study

Lecture 21 Valuation of Inventory Net Realiable Value Item by Item Basis Case Study

Lecture 22 Treatment of Normal and Abnormal Loss and Valuation of Inventory Case Study

Lecture 23 Treatment of Production Overheads in Valuation of Inventory Case Study

Section 4: AS 3 Cash Flow Statement

Lecture 24 Cash Flow Statement Introduction (Talking Head)

Lecture 25 Cash Flows from Various Activities (Talking Head)

Lecture 26 Cash Flow Statement Direct Method (Talking Head)

Lecture 27 Cash Flow Statement Indirect Method (Talking Head)

Lecture 28 Case Study 1 Cash flow study (Talking Head)

Lecture 29 Case Study 2 Cash flow study (Talking Head)

Lecture 30 Case Study 3 Cash flow study (Talking Head)

Section 5: AS 4 Contingencies and Events occuring after balance sheet date

Lecture 31 Introduction to AS 4

Lecture 32 Events occurring after Balance Sheet Date

Lecture 33 Adjusting Event and Non Adjusting Event

Lecture 34 Events not affecting Financial Statement

Lecture 35 Special Nature Event (Dividends Declared)

Lecture 36 Going Concern and Events occuring after Balance Sheet Date

Lecture 37 Case Study1 Events occurring after Balance Sheet Date

Lecture 38 Case Study2 Events occurring after Balance Sheet Date

Lecture 39 Case Study3 Events occurring after Balance Sheet Date

Lecture 40 Case Study4 Events occurring after Balance Sheet Date

Lecture 41 Case Study5 Events occurring after Balance Sheet Date

Lecture 42 Case Study6 Events occurring after Balance Sheet Date

Lecture 43 Case Study7 Events occurring after Balance Sheet Date

Lecture 44 Case Study8 Events occurring after Balance Sheet Date

Lecture 45 Case Study 9 Events occuring after Balance Sheet Date

Lecture 46 Case Study 10 Events occuring after Balance Sheet Date

Lecture 47 Case Study 11 Events occuring after Balance Sheet Date

Section 6: AS 5 Net Profit or Loss for the period, Prior Period Items and Changes in Accoun

Lecture 48 AS 5 Introduction

Lecture 49 Profit or Loss from Oridnary Items

Lecture 50 Extra Ordinary Items as per AS 5

Lecture 51 Exceptional Items

Lecture 52 Prior Period Items

Lecture 53 Changes in Accounting Estimates

Lecture 54 Changes in Accounting Policy

Lecture 55 Case Study - Prior Period Item

Lecture 56 Case Study - Disclosure for Ordinary Items

Lecture 57 Case Study - Disclosure for Ordinary Items

Lecture 58 Case Study Prior Period Item

Lecture 59 Case Study Change in Accounting Policy

Section 7: AS 7 Construction Contracts

Lecture 60 Construction Contract and its Type

Lecture 61 Objectives of Accounting for Construction Contract

Lecture 62 Applicability of AS7

Lecture 63 Measurement of Contract Revenue

Lecture 64 Contract Costs - Inclusion and Exclusions

Lecture 65 Basic Principles of Recognition of Revenue and Expenses

Lecture 66 Composition of Contract Revenue

Lecture 67 Provision for Expected Losses

Lecture 68 Effect of change in estimate in Construcition Contract

Lecture 69 Accounting Disclosures by Construction Contractors as per AS 7

Lecture 70 Contract Accounting Case Study 1

Lecture 71 Contract Accounting Case Study 2

Lecture 72 Contract Accounting Case Study 3

Section 8: AS 9 Revenue Recognition

Lecture 73 Revenue Recognition - Introduction

Lecture 74 Item excluded in Revenue Definition

Lecture 75 Timing of Revenue Recognition

Lecture 76 Conditions of Revenue Recognition

Lecture 77 Revenue Recognition when goods are sold subject to conditions

Lecture 78 Revenue from Rendering of service

Lecture 79 Special Treatment of Revenue Recognition

Lecture 80 When Revenue from sale of goods can berecognised?

Lecture 81 Treatment of interdepartmental Transfer

Lecture 82 Revenue Recognition Case Study 1

Lecture 83 Revenue Recognition Case Study 2

Lecture 84 Revenue Recognition Case Study 3

Lecture 85 Revenue Recognition Case Study 4

Lecture 86 Revenue Recognition Case Study 5

Lecture 87 Revenue Recognition Case Study 6

Lecture 88 Revenue Recognition Case Study 7

Lecture 89 Revenue Recognition Case Study 8

Section 9: AS 10 Property, Plant & Equipment

Lecture 90 Introduction to AS 10 (Revised)

Lecture 91 Property, Plant & Equipment - Definition

Lecture 92 Biological Assets & Bearer Plant Defintion

Lecture 93 Agricultural Activity & Produce as per AS 10

Lecture 94 Recognition criterial for Property, Plant & Equipment as per AS 10

Lecture 95 Case Study on Capitalisation of Remodelling Expenses

Lecture 96 "Treatment of Spareparts, Standby Equipment & Servicing Equipment"

Lecture 97 Treatment of Cost of Day to Day Servicing

Lecture 98 Treatment of Replacement of Parts of PPE

Lecture 99 Measurement at Recognition of PPE

Lecture 100 Purchase Price

Lecture 101 Directly Attributable Cost as per AS 10

Lecture 102 Case Study 1 Directly Attributable Cost

Lecture 103 Case Study 2 Directly Attributable Cost

Lecture 104 Case Study 3 Directly Attributable Cost

Lecture 105 Decommissioning, Restoration and similar liabilities

Lecture 106 Cost of Self Constructed Asset

Lecture 107 Measurement of Cost

Lecture 108 Commercial Substance in Exchange Transaction

Lecture 109 Case Study 1 Measurement of Cost

Lecture 110 Case Study 2 Measurement of Cost

Lecture 111 Measurement of Cost Part 2

Lecture 112 Measurement after Recognition

Lecture 113 Cost Model as per AS 10

Lecture 114 Revaluation Model as per AS 10

Lecture 115 Frequency of Revaluation

Lecture 116 Determination of Fair Value

Lecture 117 Accounting treatment under Revaluation Model

Lecture 118 Treatment of Revaluation Increase or Decrease

Lecture 119 Case Study on Treatment of Revaluation Increase or Decrease

Lecture 120 Treatment of Revaluation Surplus

Lecture 121 Depreciation and related aspects under AS 10

Lecture 122 Case Study on Depreciation with ref. to AS 10

Lecture 123 Review of Residual Value & Useful Life of Asset with Case Study

Lecture 124 Commencement of Period for Depreciation

Lecture 125 Cessation of Depreciation with Case Study

Lecture 126 Cessation of Depreciation (Continuation)

Lecture 127 Depreciation for Land and Building

Lecture 128 Change in Method of Depreciation as per AS 10

Lecture 129 Methods of Depreciation as per AS 10

Lecture 130 Case Study Method of Depreciation as per AS 10

Lecture 131 Changes in Decommissioning, Restoration & Other Liabilities as per AS 10

Lecture 132 Changes in Liabilities (Asset recognized under Cost Model) as per AS 10

Lecture 133 Changes in Liabilities (Asset recognized under Revaluation Model) as per AS 10

Lecture 134 4 Situations and its accounting as per AS 10

Lecture 135 Case Study Compensation from 3rd Party as per AS 10

Lecture 136 Retirement of PPE as per AS 10

Lecture 137 De-Recognition of PPE as per AS 10

Lecture 138 Disclosure requirement for PPE as per AS 10

Section 10: AS 11 The Effects of Changes in Foreign Exchange Rates

Lecture 139 Introduction to AS 11 The Effects of Changes in Foreign Exchange Rates

Lecture 140 Areas not covered by AS 11

Lecture 141 What is Foreign Currency Transaction?

Lecture 142 Monetary and Non Monetary Items

Lecture 143 integral and integral foreign operations

Lecture 144 Forward Exchange Contract and Forward Rate

Lecture 145 Initial Recognition of Foreign Exchange Transactions

Lecture 146 Reporting Foregin Currency Items at Balance Sheet Date

Lecture 147 Recognition of Exchange Differences

Lecture 148 Treatment of Exchange Differences of Long Term Monetary Items

Lecture 149 Translation of Financial Statements of Foreign Operations

Lecture 150 Translation of Financial Statements of Integral Foreign Operations

Lecture 151 Translation of Financial Statements of Non Integral Foregin Operations

Lecture 152 How to decide Non Integral Foregin Operations?

Lecture 153 Forward Contract and AS 11

Lecture 154 Case Study 1 Forex Difference and Loan Accounting

Lecture 155 Case Study 2 Capitalization of Foreign Exchange Difference attributable to Depre

Lecture 156 Case Study 3 Preparation of Trial Balance of Foreign Operations in Rupees

Lecture 157 Case Study 4 Recognition of Forward Contract Loss / Gain

Lecture 158 Case Study 5 Accounting for Speculative loss / gain out of Forward Contract

Lecture 159 Disclosures required in Financial Statements

Lecture 160 Presentation of Foreign Currency Monetary Item Translation Difference Account

Lecture 161 Case Study 6 Accounting for Translation of Integral Foreign Operations

Section 11: AS 12 Accounting for Government Grants

Lecture 162 Introduction to Accounting for Government Grants

Lecture 163 What is Government Grant?

Lecture 164 Accounting Treatment for Government Grant

Lecture 165 Recognition of Government Grants

Lecture 166 Presentation of Grants related to Specific Fixed Assets

Lecture 167 Case Study on Accounting for Government Grant (by deducting from Fixed Asset)

Lecture 168 Case Study on Government Grant (Treating as Deferred Income)

Lecture 169 Case Study (Utilisation of Government Grant and Accounting for asset recevied fr

Lecture 170 Presentation of Grants (Revenue & in nature of Promoter's Contribution)

Lecture 171 Case Study (Accounting treatment for Grant received for Investment)

Lecture 172 Refund of Government Grants

Lecture 173 Disclosures in Financial Statements for Government Grants

Lecture 174 Case Study (Accounting treatment for Refund of Grant credited to Fixed Asset)

Lecture 175 Case Study (Accounting treatment for Refund of Grant credited to Fixed Asset)

Lecture 176 Case Study (Accounting treatment Deferred Grant a/c and refund)

Section 12: AS 13 Accounting for Investments - Case Studies

Lecture 177 Investment Accounting

Lecture 178 Problem 1 Investment Accounting

Lecture 179 Problem 2 Investment Accounting

Lecture 180 Problem 3 Investment Accounting

Lecture 181 Accounting for Fixed Investment Securities

Lecture 182 Problem 4 Accounting for Fixed Investment Securities

Lecture 183 Problem 5 Accounting for Fixed Investment Securities

Section 13: AS 14 Accounting for Amalgamations

Lecture 184 Amalgamation Introduction

Lecture 185 Difference between Amalgamation Absortpion and External Reconstruction

Lecture 186 Types of Amalgamation

Lecture 187 Purchase Consideration

Lecture 188 Case 1 Purchase Consideration

Lecture 189 Case 2 Purchase Consideration

Lecture 190 Methods of Accounting for Amalgamation

Lecture 191 Case 3 Amalgamation in nature of Merger

Lecture 192 Case 4 Amalgamation in nature of Purchase

Lecture 193 Case 5 Purchase Consideration

Lecture 194 Case 6 Purchase Consideration

Lecture 195 Intercompany Owings in Amalgamation

Lecture 196 Journal Entries to be passed in Books of Selling Company

Lecture 197 Journal Entries to be passed in Books of Buying Company

Lecture 198 Intercompany Owings - Adjustment in Value of Stock in Amalgamation

Lecture 199 Case 7 Intercompany Owings and Amalgamation

Lecture 200 Case 8 Amalgamation Closing Ledger in Selling Companies

Lecture 201 Case 9 Amalgamation Closing Ledger in Buying Company

Section 14: AS 16 Borrowing Cost

Lecture 202 Introduction to AS 16 Borrowing Cost

Lecture 203 Definition of Qualifying Asset

Lecture 204 Exchange Difference on Foreign Currency Borrowings treated as Borrowing Cost

Lecture 205 Case Study Exchange Difference on Foreign Currency Borrowings treated as Borrowi

Lecture 206 Borrowing Cost Eligible for Capitalisation

Lecture 207 Specific Borrowing Cost and General Borrowing Cost

Lecture 208 Case study Capitalisation of Borrowing cost from general and specific borrowings

Lecture 209 Case Study Treatment of interest

Lecture 210 Case Study Borrowing cost to be capitalised

Lecture 211 Commencement of Capitalisation of Borrowing Cost

Lecture 212 Suspension of Capitalisation of Borrowing Cost

Lecture 213 Cessation of Capitalisation Cost

Lecture 214 Disclosure in Financial Statements

Lecture 215 Case Study - Treatment of Borrowing Cost on Investments

Section 15: AS 17 Segment Reporting

Lecture 216 Introduction to AS 17 Segment Reporting

Lecture 217 Scope of AS 17 Segment Reporting

Lecture 218 Business Segment Defintion as per AS 17

Lecture 219 Geographical Segment & Reportable Segment as per AS 17

Lecture 220 Segment Revenue, Expense & Result

Lecture 221 Segment Assets & Liabilties

Lecture 222 Treatment of Interest for determining Segment Expense

Lecture 223 Allocation to Segment

Lecture 224 Primary and Secondary Segment Reporting Formats

Lecture 225 Matrix Presentation

Lecture 226 Identifying Business & Geographical Segments

Lecture 227 Quantitative Thresholds for Identifying Reportable Segments as per AS 17

Lecture 228 Primary Reporting Format

Lecture 229 Secondary Segment Information

Lecture 230 Other Disclosures required under AS 17

Lecture 231 Segment Report Case Study 1

Lecture 232 Inter-Segment Transfer Pricing Policy Case 2

Lecture 233 Treatement of Deferred Tax Asset in Segment Reporting Case 3

Lecture 234 Preparation of Segmental Report Case 4

Lecture 235 Identifying Business Segments Case 5

Section 16: AS 19 Leases

Lecture 236 Introduction to AS 19 Leases and its applicability

Lecture 237 Non Cancellable Lease and Lease Term - Definition

Lecture 238 Minimum Lease Payments

Lecture 239 Fair Value, Economic Life & Useful Life

Lecture 240 Residual Value, Guaranteed & Unguaranteed Residual Value, Gross Investment in Le

Lecture 241 Unearned Finance Income, Interest rate implicit in lease & Contingent Rent

Lecture 242 Types of Lease

Lecture 243 Indicators of Financial Lease

Lecture 244 Accounting for Financial Lease

Lecture 245 Interest rate implicit in lease & Case Studies

Section 17: AS 20 Earnings Per Share

Lecture 246 Introduction to AS 20

Lecture 247 Important Definitions

Lecture 248 Basic EPS Introduction

Lecture 249 Case 1 Weighted Average No. of Equity Shares

Lecture 250 When shares are included in Denominator?

Lecture 251 Treatment of Partly Paid Equity Shares

Lecture 252 How to calculate EPS in case of Bonus Issue?

Lecture 253 How to calculate EPS in case of Rights Issue?

Section 18: AS 22 Accounting for Taxes on Income

Lecture 254 Introduction

Lecture 255 Matching Concept and Deferred Tax

Lecture 256 Generally Accepted Accounting Practices for Tax Accounting

Lecture 257 Basic Terms Explained

Lecture 258 Accounting Income and Taxable Income

Lecture 259 Impact of Differences

Lecture 260 Deferred Tax Assets and Liabilities

Lecture 261 Reasonable and Virtual Certainity

Lecture 262 Recognition of Deferred Tax

Lecture 263 Deferred Tax Example

Section 19: Q & A Compedium

Lecture 264 Computation of Depreciation

Section 20: Last Section

Lecture 265 Bonus Lecture

CA Intermediate Students,CMA Students,CS Students

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