B Com Semester VI - ACCOUNTING STANDARDS

UNIT-I: INTRODUCITON: Introduction to Accounting – Concept of Accounting Theory – Role of accounting theory - Classification of Accounting Theory – Deductive and inductive approach in theory formulation – - Accounting Principles: Concepts and Conventions - Accounting standard: Concept – Evolution. 

 
UNIT-II: STANDARDS RELATING TO FINANCIAL REPORTING & DISCLOSURE: Ind AS-101: First time adoption of Indian Accounting Standards – Ind AS-1: Presentation of Financial Statements - Ind AS-7: Cash Flow Statements (Including problems) – Ind AS-8: Accounting Policies, Changes in Accounting Estimates and Errors – Ind AS-10: Events after the Balance Sheet Date -– Ind AS-24: Related Party Disclosures – Ind AS- 34: Interim Financial Reporting - Ind AS-105: Non-current assets held for sale and discontinued operations – Ind AS108: Operating Segments.

UNIT-III: STANDARDS PROVIDING GUIDANCE ON FINANCIAL STATEMENT ITEMS: Ind AS-2: Inventories (Including simple problems) -– Ind AS-11: Construction contracts (Including simple problems) - Ind AS-12: Income taxes – Ind AS-16: Property, Plant and Equipment – Ind AS-17: Leases (Including simple problems) - Ind AS-18: Revenue – Ind AS-20: Accounting for Government Grants and Disclosure of Government Assistance – Ind AS-23: Borrowing Costs – Ind AS-38: Intangible Assets. 

UNIT-IV: STANDARDS RELATING TO BUSINESS ACQUISITIONS AND CONSOLIDATIONS: Ind AS-28: Investments in Associate and Joint Ventures - Ind AS-103: Business Combinations – Ind AS-110: Consolidated Financial Statements – Ind AS-111: Joint Arrangements – Ind AS112: Disclosure of interest in other entities 

UNIT-V: FINANCIAL REPORTING: Financial reporting – Concept –– Development in Financial reporting objectives: True blood Report (USA) – The Corporate Report (UK) – Stamp Report (Canada) - Objectives of Financial Reporting – Qualities of Financial Reporting - Recent trends in Corporate Reporting in India. (Theory only)