Accounting Standards A Complete Study

Course on Accounting Standards for CA / CMA / CS / MBA / M Com / B Com Students

Take this Course for $21
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.

Course Curriculum

Welcome Lecture
Introduction to AS 1 Disclosure of Accounting Policies
Fundamental Accounting Assumptions
Accounting Policies
Going Concern Assumption Case Study
AS 2 Introduction
Items excluded from scope of AS 2
Types of Inventory
Inventory cost ascertainment
Valuation of Inventory
Measurement of Inventory
Cost of Inventory
Joint Products or Byproducts
Cost Formula
Other Techniques of Cost Measurement
Net Realisable Value
Disclosure Requirements
Value of Inventory Case Study
Treatment of Fixed Overheads Case Study
Computation of Cost of Inventory Case Study
Valuation of Inventory Net Realiable Value Item by Item Basis Case Study
Treatment of Normal and Abnormal Loss and Valuation of Inventory Case Study
Treatment of Production Overheads in Valuation of Inventory Case Study
Cash Flow Statement Introduction (Talking Head)
Cash Flows from Various Activities (Talking Head)
Cash Flow Statement Direct Method (Talking Head)
Cash Flow Statement Indirect Method (Talking Head)
Case Study 1 Cash flow study (Talking Head)
Case Study 2 Cash flow study (Talking Head)
Case Study 3 Cash flow study (Talking Head)
Introduction to AS 4
Events occurring after Balance Sheet Date
Adjusting Event and Non Adjusting Event
Events not affecting Financial Statement
Special Nature Event (Dividends Declared)
Going Concern and Events occuring after Balance Sheet Date
Case Study1 Events occurring after Balance Sheet Date
Case Study 2 Events occurring after Balance Sheet Date
Case Study3 Events occurring after Balance Sheet Date
Case Study4 Events occurring after Balance Sheet Date
Case Study5 Events occurring after Balance Sheet Date
Case Study6 Events occurring after Balance Sheet Date
Case Study7 Events occurring after Balance Sheet Date
Case Study8 Events occurring after Balance Sheet Date
AS 5 Introduction
Profit or Loss from Oridnary Items
Extra Ordinary Items as per AS 5
Exceptional Items
Prior Period Items
Changes in Accounting Estimates
Changes in Accounting Policy
Case Study - Prior Period Item
Case Study - Disclosure for Ordinary Items
Case Study - Disclosure for Ordinary Items
Case Study Prior Period Item
Case Study Change in Accounting Policy
Construction Contract and its Type
Objectives of Accounting for Construction Contract
Applicability of AS7
Measurement of Contract Revenue
Contract Costs - Inclusion and Exclusions
Basic Principles of Recognition of Revenue and Expenses
Composition of Contract Revenue
Provision for Expected Losses
Effect of change in estimate in Construcition Contract
Accounting Disclosures by Construction Contractors as per AS 7
Contract Accounting Case Study 1
Contract Accounting Case Study 2
Contract Accounting Case Study 3
Revenue Recognition - Introduction
Item excluded in Revenue Definition
Timing of Revenue Recognition
Conditions of Revenue Recognition
Revenue Recognition when goods are sold subject to conditions
Revenue from Rendering of service
Special Treatment of Revenue Recognition
When Revenue from sale of goods can berecognised?
Treatment of interdepartmental Transfer
Revenue Recognition Case Study 1
Revenue Recognition Case Study 2
Revenue Recognition Case Study 3
Revenue Recognition Case Study 4
Revenue Recognition Case Study 5
Revenue Recognition Case Study 6
Revenue Recognition Case Study 7
Revenue Recognition Case Study 8
Introduction to AS 10 (Revised)
Property, Plant & Equipment - Definition
Biological Assets & Bearer Plant Defintion
Agricultural Activity & Produce as per AS 10
Recognition criterial for Property, Plant & Equipment as per AS 10
Case Study on Capitalisation of Remodelling Expenses
"Treatment of Spareparts, Standby Equipment & Servicing Equipment"
Treatment of Cost of Day to Day Servicing
Treatment of Replacement of Parts of PPE
Measurement at Recognition of PPE
Purchase Price
Directly Attributable Cost as per AS 10
Case Study 1 Directly Attributable Cost
Case Study 2 Directly Attributable Cost
Case Study 3 Directly Attributable Cost
Decommissioning, Restoration and similar liabilities
Cost of Self Constructed Asset
Measurement of Cost
Commercial Substance in Exchange Transaction
Case Study 1 Measurement of Cost
Case Study 2 Measurement of Cost
Introduction to AS 11 The Effects of Changes in Foreign Exchange Rates
Areas not covered by AS 11
What is Foreign Currency Transaction?
Monetary and Non Monetary Items
Integral & Non Integral Foreign Operations
Forward Exchange Contract and Forward Rate
Initial Recognition of Foreign Exchange Transactions
Reporting Foregin Currency Items at Balance Sheet Date
Recognition of Exchange Differences
Treatment of Exchange Differences of Long Term Monetary Items
Translation of Financial Statements of Foreign Operations
Translation of Financial Statements of Integral Foreign Operations
Translation of Financial Statements of Non Integral Foregin Operations
How to decide Non Integral Foregin Operations?
Forward Contract and AS 11
Case Study 1 Forex Difference and Loan Accounting
Case Study 2 Capitalization of Foreign Exchange Difference attributable to Depre
Case Study 3 Preparation of Trial Balance of Foreign Operations in Rupees
Case Study 4 Recognition of Forward Contract Loss / Gain
Case Study 5 Accounting for Speculative loss / gain out of Forward Contract
Disclosures required in Financial Statements
Presentation of Foreign Currency Monetary Item Translation Difference Account
Case Study 6 Accounting for Translation of Integral Foreign Operations
Introduction to Accounting for Government Grants
What is Government Grant?
Accounting Treatment for Government Grant
Recognition of Government Grants
Presentation of Grants related to Specific Fixed Assets
Case Study on Accounting for Government Grant (by deducting from Fixed Asset)
Case Study on Government Grant (Treating as Deferred Income)
Case Study (Utilisation of Government Grant and Accounting for asset recevied fr
Presentation of Grants (Revenue & in nature of Promoter's Contribution)
Case Study (Accounting treatment for Grant received for Investment)
Refund of Government Grants
Disclosures in Financial Statements for Government Grants
Case Study (Accounting treatment for Refund of Grant credited to Fixed Asset)
Case Study (Accounting treatment for Refund of Grant credited to Fixed Asset)
Case Study (Accounting treatment Deferred Grant a/c and refund)
Amalgamation Introduction
Difference between Amalgamation Absortpion and External Reconstruction
Types of Amalgamation
Purchase Consideration
Case 1 Purchase Consideration
Case 2 Purchase Consideration
Methods of Accounting for Amalgamation
Case 3 Amalgamation in nature of Merger
Case 4 Amalgamation in nature of Purchase
Case 5 Purchase Consideration
Case 6 Purchase Consideration
Intercompany Owings in Amalgamation
Journal Entries to be passed in Books of Selling Company
Journal Entries to be passed in Books of Buying Company
Intercompany Owings - Adjustment in Value of Stock in Amalgamation
Case 7 Intercompany Owings and Amalgamation
Case 8 Amalgamation Closing Ledger in Selling Companies
Case 9 Amalgamation Closing Ledger in Buying Company
Introduction to AS 16 Borrowing Cost
Definition of Qualifying Asset
Exchange Difference on Foreign Currency Borrowings treated as Borrowing Cost
Case Study Exchange Difference on Foreign Currency Borrowings treated as Borrowi
Borrowing Cost Eligible for Capitalisation
Specific Borrowing Cost and General Borrowing Cost
Case study Capitalisation of Borrowing cost from general and specific borrowings
Case Study Treatment of interest
Case Study Borrowing cost to be capitalised
Commencement of Capitalisation of Borrowing CostCommencement of Capitalisation of Borrowing Cost
Suspension of Capitalisation of Borrowing Cost
Cessation of Capitalisation Cost
Disclosure in Financial Statements
Case Study - Treatment of Borrowing Cost on Investments
Introduction to AS 17 Segment Reporting
Scope of AS 17 Segment Reporting
Business Segment Defintion as per AS 17
Geographical Segment & Reportable Segment as per AS 17
Segment Revenue, Expense & Result
Segment Assets & Liabilties
Treatment of Interest for determining Segment Expense
Allocation to Segment
Primary and Secondary Segment Reporting Formats
Matrix Presentation
Identifying Business & Geographical Segments
Quantitative Thresholds for Identifying Reportable Segments as per AS 17
Primary Reporting Format
Secondary Segment Information
Other Disclosures required under AS 17
Segment Report Case Study 1
Inter-Segment Transfer Pricing Policy Case 2
Treatement of Deferred Tax Asset in Segment Reporting Case 3
Preparation of Segmental Report Case 4
Identifying Business Segments Case 5
Introduction
Matching Concept and Deferred Tax
Generally Accepted Accounting Practices for Tax Accounting
Basic Terms Explained
Accounting Income and Taxable Income
Impact of Differences
Deferred Tax Assets and Liabilities
Reasonable and Virtual Certainity
Recognition of Deferred Tax
Deferred Tax Example
author

CA N Raja Natarajan

Instructor

I am a Chartered Accountant with tonnes of passion for teaching.

I teach Financial Management & Strategic Financial Management for Chartered Accountancy, Cost and Management Accountancy and Company Secretary students in Ernakulam, India. I also hold Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune and Bachelors in Commerce, from Loyola College, Chennai.

I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice. During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in Financial Analysis, Risk Assessment, Viability Study, Evaluating business models, Project Finance, Working Capital Management, etc.

I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like Project Finance, Credit Risk Assessment, Entrepreneurship Development, Finance for Non Finance Executives, etc.

I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.