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AccountingStandard(A S)1 - webtel.in

36AS1(issued1979) accountingstandard (AS)1 (issued1979)DisclosureofAccountingPolici es(ThisAccountingStandardincludesparagra phs24-27setinbolditalictypeandparagraphs 1-23setinplaintype, )ThefollowingisthetextoftheAccountingSta ndard(AS)1issuedbytheAccountingStandards Board,theInstituteofCharteredAccountants ofIndiaon DisclosureofAccountingPolicies . , ,thisstandardisrecommendedforusebycompan ieslistedonarecognisedstockexchangeandot herlargecommercial, , AnnouncementsoftheCouncilregardingstatus ofvariousdocumentsissuedbytheInstituteof CharteredAccountantsofIndia ,inStatementsissuedbyit,recommendedthedi sclosureofcertainaccountingpolicies, , , ,however, , , (issued1979) : agoingconcern,thatis, ,thatis,recognisedastheyareearnedorincur red(andnotasmoneyisreceivedorpaid)andrec ordedinthefinancialstatementsoftheperiod stowhichtheyrelate.

36 AS 1 (issued 1979) AccountingStandard(A S)1 (i ssued 1979) DisclosureofAccountingPolicies (T his Accounting Standard includes paragraphs 24-27 set in bold italic

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Transcription of AccountingStandard(A S)1 - webtel.in

1 36AS1(issued1979) accountingstandard (AS)1 (issued1979)DisclosureofAccountingPolici es(ThisAccountingStandardincludesparagra phs24-27setinbolditalictypeandparagraphs 1-23setinplaintype, )ThefollowingisthetextoftheAccountingSta ndard(AS)1issuedbytheAccountingStandards Board,theInstituteofCharteredAccountants ofIndiaon DisclosureofAccountingPolicies . , ,thisstandardisrecommendedforusebycompan ieslistedonarecognisedstockexchangeandot herlargecommercial, , AnnouncementsoftheCouncilregardingstatus ofvariousdocumentsissuedbytheInstituteof CharteredAccountantsofIndia ,inStatementsissuedbyit,recommendedthedi sclosureofcertainaccountingpolicies, , , ,however, , , (issued1979) : agoingconcern,thatis, ,thatis,recognisedastheyareearnedorincur red(andnotasmoneyisreceivedorpaid)andrec ordedinthefinancialstatementsoftheperiod stowhichtheyrelate.

2 (Theconsiderationsaffectingtheprocessofm atchingcostswithrevenuesundertheaccruala ssumptionarenotdealtwithinthisStatement. ) continuingeffortsinthisregardinfutureare likelytoreducethenumberstill further, Methodsofdepreciation,depletionandamorti sation Treatment of expenditure during construction Conversionortranslationofforeigncurrency items Valuationofinventories Treatmentofgoodwill Valuationofinvestments Treatmentofretirementbenefits Recognitionofprofitonlong-termcontracts Valuationoffixedassets of affairs of the enterprise as at the balance sheet date and of the ,themajorconsiderationsgoverningtheselec tionandapplicationofaccountingpoliciesar e: 44AS1(issued1979) , material items, , , ,however, ,whollyorinpart, , , ,whollyorinpart, , ,ConsistencyandAccrualarefollowedinfinan cialstatements, ,thefactshouldbedisclosed.


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