as accounting standards

"AS Accounting Standards" refers to a set of accounting principles and guidelines used in India to ensure consistency, transparency, and comparability in the financial statements of businesses.

✅ Full Form:

AS = Accounting Standards

📘 What Are AS (Accounting Standards)?

These are rules and guidelines issued by the Institute of Chartered Accountants of India (ICAI) to standardize accounting practices across companies in India.

They govern how financial transactions and events should be recognized, measured, presented, and disclosed in financial statements.

🏛️ Issued By:

ICAI (Institute of Chartered Accountants of India)

Enforced under the Companies Act, 1956 / 2013

📚 List of AS (Applicable for Non-Ind AS Companies):

(Note: These apply to small/medium companies not required to follow Ind AS)

AS No. Title
AS 1 Disclosure of Accounting Policies
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AS 6 (Withdrawn; merged with AS 10)
AS 7 Construction Contracts
AS 9 Revenue Recognition
AS 10 Property, Plant and Equipment
AS 11 The Effects of Changes in Foreign Exchange Rates
AS 12 Accounting for Government Grants
AS 13 Accounting for Investments
AS 14 Accounting for Amalgamations
AS 15 Employee Benefits
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
AS 24 Discontinuing Operations
AS 25 Interim Financial Reporting
AS 26 Intangible Assets
AS 27 Joint Ventures
AS 28 Impairment of Assets
AS 29 Provisions, Contingent Liabilities, and Contingent Assets
🔄 Difference Between AS and Ind AS:
Feature AS (Accounting Standards) Ind AS (Indian Accounting Standards)
Based on Indian GAAP IFRS (International Standards)
Applicability Small/medium companies Listed & large unlisted companies
Principles Rule-based Principle-based