Accounting Standard 1
Accounting Standard 1
Accounting Standard 1
ON
ACCOUNTING
STANDARDS.
BY:
UTSAV, SIDDHARTH, APRAJITA,
RAHUL & SAKSHI
CONTENTS
• What are Accounting Standards ?
• Objective of Accounting Standards ?
• Meaning of Accounting Standard 1 ?
• Objective of Accounting Standard 1 ?
• Fundamental Accounting Assumptions ?
• Considerations while selecting Acc.
Policies ?
• Example of a Company Following AS 1 ?
• International Accounting Standards ?
• Meaning of IAS-1 ?
ACCOUNTING STANDARDS
DISCLOSURE OF
ACCOUNTING
POLICIES
STATUS & APPLICABILITY
FINANCIAL STATEMENTS :-
GLAXO
SMITHKLINE
PHARMACEUTIC
ALS
Statement of Accounting
Policies :-
• The financial statements are
prepared under the historical cost
convention & comply with the
Accounting Standards.