indianaccounting blogspot.com

Indian Accounting

A blog on accounting in India, covering accounting standards,Financial Accounting and Cost Accounting.

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INDIAN ACCOUNTING STANDARDS

Ind AS 20 on Accounting for Government Grants and Disclosure of Government Assistance and AS 12 on Accounting for Government Grants. Ind AS 20 deals with the other forms of government assistance which do not fall within the definition of government grants. It requires that an indication of other forms of government assistance from which the entity has directly benefited should be disclosed in the financial statements. However, AS 12 does not deal with such government assistance. In Ind AS 10, material no.

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Indian Accounting

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A blog on accounting in India, covering accounting standards,Financial Accounting and Cost Accounting.

CONTENT

This web page indianaccounting.blogspot.com states the following, "AS 1 DISCLOSURE OF ACOUNTING POLICY." We saw that the webpage said " Are the specific accounting principles and the methods of applying those principles adopted by an enterprise in the preparation and presentation of financial statements." It also said " All significant accounting policies should be disclosed. Such disclosure form part of financial statements. All disclosures should be made at one place. Specific disclosure for the adoption of fundamental accounting assumptions is not required."

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