816649 56111 disclosure requirements of as
Post on 14-Apr-2018
216 Views
Preview:
TRANSCRIPT
-
7/30/2019 816649 56111 Disclosure Requirements of As
1/75
Accountin
S.No A.S - No.
1.00 1.00
2.00 2.00
3.00 3.00
4.00 4.00
5.00 5.00
6.00 6.00
7.00 7.00
8.00 9.00
9.00 10.00
10.00 11.00
11.00 12.00
12.00 13.00
13.00 14.0014.00 15.00
15.00 16.00
16.00 17.00
17.00 18.00
18.00 19.00
19.00 20.00
20.00 21.00
21.00 22.00
22.00 23.00
23.00 24.00
24.00 25.00
25.00 26.00
26.00 27.00
27.00 28.00
28.00 29.00
29.00 30.00
30.00 31.00
31.00 32.00
-
7/30/2019 816649 56111 Disclosure Requirements of As
2/75
Standards - Disclosures
A.S Name
Disclosures of Accounting Policies.
Valuation of Inventories
Cash Flow Statement
Contingencies and Events occouring after balance sheet date.
Net Profit or Loss for the Period, prior Period Items and change in Accounting Policies
Depriciation Accounting
Construction Contracts
Revenue Recognition
Accounting for Fixed Assets
The Effects of Changes in Foreign Exchange Rates.
Accounting for Government Grants
Accounting for Investments
Accounting for AmalgamationsEmployee Benefits
Borrowing Costs
Segmental Reporting
Related Party Disclosures
Leases
Earning Per Share
Consolidated Financial Statements
Accounting for Taxes on Income
Accounting for Investments in associates in Consolidated Financial Statements
Discontinuing Operations
Interim Financial Reporting
Intangible Assets
Financial Reporting of interests in Joint Ventures.
Impairment of Assets
Provisions, Contingent Liabilities and Contingent Assets.
Financial Instruments: Recognition and Measurement
Financial Instruments: Presentation
Financial Instruments: Disclosures
-
7/30/2019 816649 56111 Disclosure Requirements of As
3/75
A.S-1 Disclosures of Accounting Policies.
Disclosure Requirements
1 All Significant accounting policies adopted in preparation and presentation of fin
2
3 If fundamental accounting assumptions are not followed, the fact should be disc
Any change in accounting policies which has a material effect in the current peri
resonably expected to have a material effect in later periods should be disclose
-
7/30/2019 816649 56111 Disclosure Requirements of As
4/75
ancial statements.
losed.
d or which is
.
-
7/30/2019 816649 56111 Disclosure Requirements of As
5/75
A.S-2 Valuation of Inventories
Disclosure Requirements
1 The accounting policies adopted in measuring inventories, including the cost for
2 The total carrying amount of inventories and its classification appropriate to the
Common Classifications of inventories are:
- Raw Material and Components
- Work in Progress
- Finished Goods
- Stores and Spares
- Loose Tools
-
7/30/2019 816649 56111 Disclosure Requirements of As
6/75
ula used.
enterprise.
-
7/30/2019 816649 56111 Disclosure Requirements of As
7/75
A.S-3 Cash Flow Statement
Disclosure Requirements
1 An enterprise should report cash flows from operating activities using either:
- The direct method, where major classes or gross cash receipts and gross cash
2
3
4
- Cash receipts and payments for the acceptance and repayments of deposits w
- The placement of deposits with and withdrawal of deposits from other financi
- Cash advances and loans made to customers and the repayment of those adv
5
6
Components of cash and cash equivalents and should present a reconciliation of
statement with the equivalent items.
An enterprise should disclose, together with a commentory by management, th
cash & cash equivalent balances held by enterprises that are not available for us
- The indirect method, where net profit/loss is adjusted for the effects of trans
nature etc.
An enterprise should report seprately major classes of gross cash receipts and gr
arising from investing and financing activities
Cash flows arising from the following operating, investing or financing activities
net basis.
- Cash receipts and payments on behalf of customers when the cash flows refle
customer rather than those of the enterprise.
-Cash receipts and payments for items in which the turnover is quick, the amou
maturities are short.
Cash flows arising from each of the following activities of a financial enterprise
net basis.
-
7/30/2019 816649 56111 Disclosure Requirements of As
8/75
payments.
ith a fixed maturity date.
al enterprises.
nces and loans.
the amounts in its Cash flow
amount of significant
e by it.
ctions of non-cash
oss cash payments
ay be reported on a
ct the activities of the
nts are large, and the
ay be reported on a
-
7/30/2019 816649 56111 Disclosure Requirements of As
9/75
A.S-4 Contingencies and Events occouring after balance sheet date.
Disclosure Requirements
1
- The nature of contingency.- The Uncertainities which may affect the future outcomes
- An estimate of financial effect, or a statement that such estimate could not be made.
2
- The nature of the Event.
- An estimate of financial effect, or a statement that such estimate could not be made.
If disclosure of contingency is required by paragraph 11, the following information should b
If disclosure of events occouring after balance sheet date is required by paragraph 15, the f
should be provided.
-
7/30/2019 816649 56111 Disclosure Requirements of As
10/75
provided.
llowing information
-
7/30/2019 816649 56111 Disclosure Requirements of As
11/75
A.S-5
Disclosure Requirements
1
- Profit or Loss from ordinary activities,
- Extraordinaryt items.
2
3
4 The nature and amount of prior period items.
5
6 Any Chane in accounting policy which has a material effect.
Net Profit or Loss for the Period, prior Period Items and c
Accounting Policies
The net profit or loss for the period comprises the following components, each o
disclosed.
The nature and amount of each extraordinary item should be disclosed sepratel
profit and loss in a manner that its impact on current profit & loss can be perceiv
If disclosure of any item is relevant to explain the performance of the enterprise
nature and amount of such item should be disclosed separately.
The nature and amount of a change in an accounting estimate which has a mate
period, or which is expected to have a material effect in subsequent period.
-
7/30/2019 816649 56111 Disclosure Requirements of As
12/75
ange in
f which should be
in the statement of
ed.
for the period, the
rial effect in the curret
-
7/30/2019 816649 56111 Disclosure Requirements of As
13/75
A.S-6 Depriciation Accounting
Disclosure Requirements
1 The historical cost or other amount substituted for historical cost of each class o
2 Total Depriciation for the period for each class of assets
3 The related accumulated depriciation
4 Depriciation methods used
5
6
7
Depriciation rates or useful lives of the assets, if they are different from the prin
in the statute governing the enterprise.
Where depriciable assets are revalued, and that revaluation has a material effec
-iation, the same should be disclosed seprately.
If any Depriciable asset is disposed of, discarded, demolished or destroyed, the
deficiency, if material should be disclosed seperately.
-
7/30/2019 816649 56111 Disclosure Requirements of As
14/75
f depriciable assets.
cipal rates specified
on amount of depric-
et surplus or
-
7/30/2019 816649 56111 Disclosure Requirements of As
15/75
A.S-7 Construction Contracts
Disclosure Requirements
1 An Enterprise should disclose:
- The amount of contract revenue recognised as revenue in the period.- The method used to detemine the contract revenue recognised in the period.
- The Methods used to determine the stage of completion of contracts in progr
2 An Enterprise should disclose the follwing for contracts in progress at the reporti
- The aggregate amount of cost incurredand recognised profits upto the reporti
- The Amount of advances received
- The Amount of retentions.
3 An enterprise should also present:
- The gross amount due from customers for contract work as an asset.
- The gross amount due to customers for contract work as a liability.
-
7/30/2019 816649 56111 Disclosure Requirements of As
16/75
ess.
ing date
ng date.
-
7/30/2019 816649 56111 Disclosure Requirements of As
17/75
A.S-9 Revenue Recognition
Disclosure Requirements
1 All disclosures as required by Accounting Standard-1
2
An enterprise should also disclose the circumstances in which revenue recogniti
postponed pending the resolution of significant uncertainities.
-
7/30/2019 816649 56111 Disclosure Requirements of As
18/75
-
7/30/2019 816649 56111 Disclosure Requirements of As
19/75
A.S-10 Accounting for Fixed Assets
Disclosure Requirements
1
2 Expenditure incurred on account of fixed assets in the course of costruction or a
3
Gross and net book values of fixed assets at the beginning and end of an accoun
additions, disposals, acquisitions and other movements.
Revalued amount substituted for historical costs of fixed assets, the method ado
revalued amounts, the nature of indices used, the year of appraisal made.
-
7/30/2019 816649 56111 Disclosure Requirements of As
20/75
cquisition.
ting period showing
pted to compute the
-
7/30/2019 816649 56111 Disclosure Requirements of As
21/75
A.S-11 The Effects of Changes in Foreign Exchange Rates.
Disclosure Requirements
1 An enterprise should disclose:
- The amount of exchane differences included in the net profit or loss for the p
2 When the reporting currency is different, the reason for for using a different cur
3 When there is change in the classification of a signifiacnt Foreign Operation an e
- nature of change in classification
- reason for the change
- impact of change in classification on shareholder's funds.
- impact on net profit/loss for each prior period presented.
- Net exchange differences accumulated in foreign currency translation reserve
component of shareholder's funds,and a reconciliation of the amount of suc
at the beginning and end of the period
-
7/30/2019 816649 56111 Disclosure Requirements of As
22/75
riod
rency.
ntity should disclose:
as a seprate
h exchange difference
-
7/30/2019 816649 56111 Disclosure Requirements of As
23/75
A.S-12 Accounting for Government Grants
Disclosure Requirements
1
2
Accounting Policy adopted for government grants, including the method of pres
statements.
The nature and extent of government grants recognised in the financial stateme
of non-monetry assets given at a concssional rate or free of cost.
-
7/30/2019 816649 56111 Disclosure Requirements of As
24/75
ntation in financial
nts, including grants
-
7/30/2019 816649 56111 Disclosure Requirements of As
25/75
A.S-13 Accounting for Investments
Disclosure Requirements
1 The accounting policies for determination of carrying amount of investments.
2 Classification of investments as specified below:
- Current investments
- Long term investments
- Government or Trust securities
- Shares, Debentures or bonds
- Investment properties
- Others-specifying nature
3 Amout included in profit and loss statement for.
4
5
6 Other disclosures as specifically required by the relevant statute governing the e
- Interest, dividends and rentals on invetsments showing seprately such income
current invetsments
- Profits and losses on disposal of current investments and changes in carrying
investments.
- Profits and losses on disposal of long term investments and changes in carryin
investments.
Significant restrictions on the right of ownership, reliability of investmentsor the
income and proceeds of disposal.
Aggregate amount of quoted and unquoted investments, giving the aggregate m
investents.
-
7/30/2019 816649 56111 Disclosure Requirements of As
26/75
nterprise.
from long term and
mount of such
g amount of such
remittance of
arket value of quoted
-
7/30/2019 816649 56111 Disclosure Requirements of As
27/75
A.S-14 Accounting for Amalgamations
Disclosure Requirements
1 Disclosure to be made in first financial statement
- names and general nature of business of the amlagamating companies.- effective date of amalgamation for accounting purposes.
- the methods of accounting used to reflect the amalgamation
- particulars of scheme sanctioned in statute.
2 Additional disclosures in first financial statement for accounting under pooling o
3 Additional disclosures in first financial statement for accounting under purchase
4
- Description and no. of shares issued, together with the percentage of each co
exchanged.
- The amount of any difference between the consideration and the value of net
acquired, and the treatment thereof.
- Consideration for the amalgamation and a description of the consideration pa
payable.
- The amount of any difference between the consideration and the value of net
acquired, and the treatment thereof includind the period of amortisation of a
amalgamation.
When amalgamation is effected after balance sheet date but before issuance of
statements of either party, disclosure should be made in accordance with A.S-4
-
7/30/2019 816649 56111 Disclosure Requirements of As
28/75
interest method
method
pany's equity shares
identifiable assets
id or contingently
identifiable assets
ny goodwill arising on
the financial
-
7/30/2019 816649 56111 Disclosure Requirements of As
29/75
A.S-15 Employee Benefits
Disclosure Requirements
1
2 An enterprise should disclose following information about defined benefit pplan
- the enterprise's accounting policy for recognising acturial gains and losses.
- a general description of the type of plan.
- Current Service Cost.
- Interest Cost
- Contribution by plan participants
- Acturial gains and losses
- Benefits paid
- Past service cost
- Amalgamations
- Curtailments
- Settlements
- Expected return on plan assets
- Acturial gains and losses
- Contribution by the employer
- Contribution by plan participants
- Benefits paid
- Amalgamations
- Settlements
- the past service cost not yet recognised in the balance sheet
- any amount not recognised as an asset
- the fair value at the balance sheet dateof any reimbursement right
- the other amounts recognised in the balance sheet
- The total expense recognised in the statement of profit and loss for each of th
- Current Service Cost.
Information that enables users of financial statements to evaluate the nature of
plans and the financial effects of changes in those plans during the period.
- a reconciliation of opening and closing balances of the present value of the de
obligation showing seperately, the effect during period attributable to each o
- Foreign currency exchange rate changes on plans measured in a cu
the enterprise's reporting currency.
- an analysis of Defined benefit obligation into amount arising from plans that a
funded.
- a reconciliation of opening and closing balances of the fair value of the plan a
opening and closing balances of any reimbursement right recognised as an asthe effect during period attributable to each of the following.
- Foreign currency exchange rate changes on plans measured in a cu
the enterprise's reporting currency.
- a reconciliation of the present value of the defined benefit obligation and the
assets to the assets and liablities recognised in the balance sheet, showing at l
-
7/30/2019 816649 56111 Disclosure Requirements of As
30/75
- Interest Cost
- Expected return on plan assets
- Expected return on any reimbursement right recognised as as asse
- Acturial gains and losses
- Past service cost
- the effects of any curtailment and settlement.
- The amount included in the fair value of plan assets for:- each category of the enterprise's own financial instruments
- any property occupied by, or other assets used by, the enterprise.
- a narrative description of the basis used to determine the overall expected rat
- the principal acturial assumptions used as at the balance sheet date including,
- the discount rates
- medical cost trend rates
- any other material acturial assumption
- the actual return on plan assets, as well as the actual return on any reimburse
as an asset.
- the expected rate of return on any plan assets for the periods pres
statements.
- the expected rate of return for the periods presented in the financ
reimbursement right recognised as an asset.
-
7/30/2019 816649 56111 Disclosure Requirements of As
31/75
s:
recognised as as asset.
e following
its defined benefits
fined benefit
the following.
rrency different from
re wholly or partly
sets and of the
etshowing seperately,
rrency different from
fair value of the plan
east.
-
7/30/2019 816649 56111 Disclosure Requirements of As
32/75
t.
e of return on assets.
where applicable
ment right recognised
ented in the financial
ial statements on any
-
7/30/2019 816649 56111 Disclosure Requirements of As
33/75
A.S-16 Borrowing Costs
Disclosure Requirements
1 The accounting policy adopted for borrowing costs
2 The amount of borrowing cost capitalized during the year.
-
7/30/2019 816649 56111 Disclosure Requirements of As
34/75
A.S-17 Segmental Reporting
Disclosure Requirements
1 An enterprise should disclose the following for each reportable segment:
- Segment result
- total carrying amount of sement assets
- total amount of segment liabilities.
2
3
- total carrying amount of sement assets by geographical location of assets.
4
- segment revenue for external customers
- the total carrying amount of segment assets
5
- total carrying amount of sement assets by geographical location of assets.
If primary format of an enterprise for reporting segment information is business
also report the following:
- Segment revenue, classified into segment revenue from sales to external custrevenue from transactions with other segments
- total cost incurred during the period to acquire segment assets, that are expe
more than one period.
- total amount of expense included in the segment result for depriciation and a
of the segment assets for the period.
- total amount of significant non-cash expenses, other than depriciation and am
of segment assets.
An enterprise should present a reconciliation between the information disclosed
segments and the aggregated information in the enterprise financial statement.
- segment revenue from external customers by goegraphical area based on the
of its customers.
- total cost incurred during the period to acquire segment assets, that are expe
more than one period by geographical location of assets.
If primary format of an enterprise for reporting segment information is business
also report the following segement information for each business segment who
to external customers is 10% or more of enterprise revenue or whose segment
of total assets of all business segments.
- total cost incurred during the period to acquire segment assets, that are expe
more than one period.
If primary format of an enterprise for reporting segment information is geograp
on location of customers, and if the assets of the enteprise are located in differe
from its customers, then enterprise should also report the following segment inf
asset based goegraphical segment whose revenue from sales to external custom
- total cost incurred during the period to acquire segment assets, that are expe
more than one period by geographical location of assets.
-
7/30/2019 816649 56111 Disclosure Requirements of As
35/75
6 The basis of pricing inter-segment transfers and any change therein.
7
8
Change in accounting policies adopted for segment reporting that have a materi
information
An enterprise should indicate the types of products and services included in eacsegments and indicate the composition of each reported geographical segment
-
7/30/2019 816649 56111 Disclosure Requirements of As
36/75
segment, it should
omers and segment
ted to be used during
mortisation in respect
ortisation in respect
for the reportable
goegraphical location
ted to be used during
segment, it should
e revenue from sales
ssets are 10% or more
ted to be used during
ical segments based
nt geographical areas
ormation for each
ers are 10% or more.
ted to be used during
-
7/30/2019 816649 56111 Disclosure Requirements of As
37/75
al effect on segment
reported businessoth primary and secondary.
-
7/30/2019 816649 56111 Disclosure Requirements of As
38/75
A.S-18 Related Party Disclosures
Disclosure Requirements
1 Name of the related party and nature of the related party relationship, where co
2
- the name of the transacting related party
- a description of the relationship between the parties
- a description of the nature of transactions
- volume of transactions either as an amount or as an appropriate proportion
- amount written off or written back in the period in respect of debts due from
If there have been transactions between related parties, during the existence of
relationship, the reporting enterprise should disclose the following.
- any other elements of the related party transactions necessary for an underst
statement.
- the amounts or appropriate proportions of outstanding items pertaining to rel
balance sheet date and provisions of doubtful debts due from such related pa
-
7/30/2019 816649 56111 Disclosure Requirements of As
39/75
-
7/30/2019 816649 56111 Disclosure Requirements of As
40/75
A.S-19 Leases
Disclosure Requirements
1 The lessee should make following disclosures for the financial lease.
- Assets acqiured under financial lease.- for each class of assets, the net carrying amount at the balance sheet date.
- not later than one year
- later than one year and not later than five years
- later than five years
- contingent rent recognised as expense in the statement of profit and loss
- the total of future sublease payments expected to be received under non-canc
- a general description of the lessee's significant leasing arrangements including f
- the basis on which contingent rent payments are determined.
- the existence and terns of renewal or purchase options and escala
2 The lessee should make following disclosures for the operating lease.
- not later than one year
- later than one year and not later than five years
- later than five years- the total of future sublease payments expected to be received under non-canc
- lease payments recognised in the statement of profit and loss
- sub-lease payments received/receivable recognised in the statement of profit a
- a general description of the lessee's significant leasing arrangements including f
- the basis on which contingent rent payments are determined.
- the existence and terns of renewal or purchase options and escala
3 The lessor should make following disclosures for the financial lease.
- not later than one year
- later than one year and not later than five years
- later than five years
- Unearned finance income.
- the unguarenteed residual values accruing to the benefit of the lessor
- a reconciliation between the total of minimum lease payments at the balance s
present value. In addition, an enterprise should disclose the total of minimum l
balance sheet date and there present value, for each of following periods:
- restrictions imposed by lease agreements, such as those concernin
debt, and further leasing.
- the total of future minimum lease payments expected to be received under no
operating lease for the follwing periods.
- restrictions imposed by lease agreements, such as those concernin
- a reconciliation between the gross investment in the lease at the balance sheet
minimum lease payments receivable at the balance sheet date. In addition, an
disclose the total gross investment in the lease and P.V of minimum lease renta
balance sheet date.
-
7/30/2019 816649 56111 Disclosure Requirements of As
41/75
- the accumulated provision for uncollectible minimum lease payments receivabl
- Contingent rent recognised in the statement of profit and loss
- a general description of the significant leasing arrangements of the lessor
- accounting policy adopted in respect of initial direct costs.
4 The lessor should make following disclosures for the operating lease.
- depriciation recognised in statement of profit and loss
- impairment losses recognised in statement of profit and loss
- impairment losses reversed in statement of profit and loss
- not later than one year
- later than one year and not later than five years
- later than five years
- Contingent rent recognised in the statement of profit and loss
- a general description of the significant leasing arrangements of the lessor
- accounting policy adopted in respect of initial direct costs.
- for each classes of assets, the gross carrying amount , the accumulated depriciaimpairment losses at the balance sheet date and,
- the total of future minimum lease payments expected to be received under no
operating lease in aggregate and for the follwing periods.
-
7/30/2019 816649 56111 Disclosure Requirements of As
42/75
llable subleases.
llowing:
tion clauses
llable subleases.
d loss
llowing:
tion clauses
eet date and there
ase payments at the
g dividends, additional
-cancellable
g dividends, additional
date, and the P.V of
nterprise should
ls receivables at the
-
7/30/2019 816649 56111 Disclosure Requirements of As
43/75
ion and accumulated
-cancellable
-
7/30/2019 816649 56111 Disclosure Requirements of As
44/75
A.S-20 Earning Per Share
Disclosure Requirements
1
2 Earning per share should be disclosed even if it is negetive
3
4
5
6 The nominal value of shares along with the EPS figures.
An enterprise should present basic and diluted EPS on the face of the statement
of equity shares that has a different right to share in net profit for the period.
If the number of equity or potential equity shares outstanding increases as a res
share split or decreases as a result of reversal of share split, the calculation of ba
should be adjusted for all the periods presented.
The amounts used as the numerators in calculating basic and diluted EPS and a r
amounts to the net profit.
The weighted average number of equity shares used as the denominator in calc
diluted EPS, and a reconciliation of these denominators to each other.
-
7/30/2019 816649 56111 Disclosure Requirements of As
45/75
of P&L for each class
lt of a bonus issue or
sic and diluted EPS
ecnonciliation of those
lation basic and
-
7/30/2019 816649 56111 Disclosure Requirements of As
46/75
A.S-21 Consolidated Financial Statements
Disclosure Requirements
1 The reasons for not consolidating subsidiary should be disclosed
2
3 In addition to above following disclosures should also be made.
- the effect of acquisition and disposal of subsidiaries on the financial position a
If it is not practicable to use uniform accounting policise in preparing the consoli
statements, the fact should be disclosed together with proportions of items in t
financial statemenst to which such different accountig policy have been applied.
- a list of all subsidiaries including the name,country of incorporation or residen
ownership interest and , if different, proportion of voting power held.
- nature of relationship between the parent and a subsidiary, if parent does not
indirectly through subsidiaries, more than one half of the voting power.
- the names of subsidiary(ies) of which reporting date(s) is/are different from t
difference in reporting dates.
-
7/30/2019 816649 56111 Disclosure Requirements of As
47/75
t the reporting date.
dated financial
e consolidated
ce, proportion of
own directly or
at of parent and the
-
7/30/2019 816649 56111 Disclosure Requirements of As
48/75
A.S-22 Accounting for Taxes on Income
Disclosure Requirements
1
2 The break up of deferred tax assets and deferred tax liabilities should be disclos
3 The naure of evidence supporting te recognition of deferred tax assets should b
Deferred tax assets and liabilitiesshould be disclosed under a seprate heading in
seprately from current assets and current liabilities.
-
7/30/2019 816649 56111 Disclosure Requirements of As
49/75
d in notes to accounts
disclosed.
the balance sheet,
-
7/30/2019 816649 56111 Disclosure Requirements of As
50/75
A.S-23
Disclosure Requirements
1
2 Goodwill/Capital reserrve arising on the acquiaition of associate should be disclo
3 An appropriate listing and description of associates including proportion of own
4
5
6
Accounting for Investments in associates in Consolidated
Statements
The reasons for not applying the equity method in accounting for investments in
disclosed in consolidated financial statements.
The investor's share of profit and loss, extraordinary or prior period items shoul
disclosed.
The name of the associates of which reporting date is different from that of fina
investor and differences in reporting date s.
In case an associate uses accounting policies other than adopted for consolidate
ans it is not practicable to make appropriate adjustmentsto the associate's finan
fact should be disclosed along with breif description of differences in accounting
-
7/30/2019 816649 56111 Disclosure Requirements of As
51/75
sed seprately.
rship interest.
Financial
associates should be
be seperately
cial statements of
d financial statements
cial statements, the
policies.
-
7/30/2019 816649 56111 Disclosure Requirements of As
52/75
A.S-24 Discontinuing Operations
Disclosure Requirements
1 a description of discontining operation(s).
2 the business or geographical segment(s) in which it is reported as per AS-17.
3 the date and nature of the intial disclosure event .
4 the date or period in which discontinuance is expected to be completed.
5
6
7
the carrying amount as of the Balance sheet date of the total assets to be dispos
Liablities to be settled.
the amount of revenues and expenses in respect of ordinary activities attributab
operations.
if an enterprise abandons and withdraws a plan that was previously reported as
operation, that fact, reasons therefor and its effect should be disclosed.
-
7/30/2019 816649 56111 Disclosure Requirements of As
53/75
ed off and total
le to the discontinuing
a discontinuing
-
7/30/2019 816649 56111 Disclosure Requirements of As
54/75
A.S-25 Interim Financial Reporting
Disclosure Requirements
1
if an estimate of an amount reported in interim period change significantly durin
period of the financial year but a separate financial is not prepared and presenteperiod, the nature and amount of that change in estimate should be disclosed in
financial statements for that financial year.
-
7/30/2019 816649 56111 Disclosure Requirements of As
55/75
g the final interim
d for that final interima note to the annual
-
7/30/2019 816649 56111 Disclosure Requirements of As
56/75
A.S-26 Intangible Assets
Disclosure Requirements
1
- the useful lives or the amortisation rates used;
- the gross carrying amount and the accumulated amortisation at the beginnin
- a reconciliation of the carrying amount at the beginning and end of the period
- retirements and disposals
- impairement losses recognised in the statement of profit and loss
- impairement losses reversed in the statement of profit and loss du
- amortisation recognised during the period .
- other changes in carrying amount during the period .
2 The financial statements should also disclosed :
- the amount of commitments for the acquisition of intangible asset.
3 The aggregate amount of research and development expenditure recognised asperiod.
The financial statements should disclosed the following for each class of intangib
distinguishing between internally generated intangible assets and other intangib
- addition, indicating seperately those from internal development a
amalgamation.
- if an intangible asset is amortised over more than 10 years the reasons why it
useful life of an intangible asset will exceed 10 years from the date asset is av
- a description, the carrying amount and remaining amortisation period of any i
asset that is material to the financial statements of the enterprise as a whole.
- the existence and carrying amounts of intangible asset whole title is restricted
amount of intangible assets pledged as security for liabilities.
-
7/30/2019 816649 56111 Disclosure Requirements of As
57/75
and at the end of year.
showing:
during the period.
ring the period.
an expense during the
le assets,
le assets:
d through
is presume thet the
ailable for use.
ndiviual intangible
and the carrying
-
7/30/2019 816649 56111 Disclosure Requirements of As
58/75
A.S-27 Financial Reporting of interests in Joint Ventures.
Disclosure Requirements
1
2
- its share of the capital commitments of the joint ventures themselves
3
4
A list of all joint ventures and description of interest in significant joint ventures.
controlled entities, the venturer should also disclose the portion of ownership in
country of incorporation or residence.
A venturer should disclose, in its separate financial statements, the aggregate a
assets, liabilities, inocome and expenses related to its interest in the jointly cont
A venturer should disclose the aggregate amount of the following contigent liabi
possibility of loss is remote, seperately from the amount of other contigent liabil- any contigent liabilities that the venturer has incurred in relation to its interes
its share in each of the contigent liabilities which have been incurred jointly w
- its share of the contigent liabilities of the joint ventures themselves for which
liable.
- those contigent liabilities that arise because the venturer is contigently liable f
the other venturers of a joint venture.
A venture should disclose the agregate amount of the following commitments in
in joint venture seprately from other commitments:
- Any capital commitments of the venturer in relation to its interest in joint ven
capital commitments that have been incurred jointly with other venturers.
-
7/30/2019 816649 56111 Disclosure Requirements of As
59/75
In respect of jointly
terest, name and
ount of each of the
rolled entities.
lities, unless the
lties.t in joint venture and
ith other ventures.
it is contigently
or the liabilities of
respect of its interest
turesand its share in
-
7/30/2019 816649 56111 Disclosure Requirements of As
60/75
A.S-28 Impairment of Assets
Disclosure Requirements
1 For each class of assets, the financial statements should disclose:
- the amount of impairment losses recognised in the statement of profit and lo- the amount revrsals of impairment losses recognised in the statement of profi
- the amount of impairment losses recognised directly against revaluation surpl
- the amount reversals of impairment losses recognised directly in revaluation
2
3
- the events and circumstances that led to the recognition or reversal of the im
- the amuont of impairment loss recognised or reversed.
- for an indivisual assets:
- the nature of the assets
- for a cash generating unit:- a description of the cash generating unit
- wheather the recoverable amount of the asset is its net selling price and its va
- if recoverable amount is net selling price, the basis used to determine the net
4
- the main classes of assets affected by impairment for which no information is
- if the aggregation of assets for identifying the cash generating unit
previous estimate of the cash generating unit's recoverable amou
- if recoverable amount is value in use the discount rates used in current estim
estimate
If an impairment loss is recognised or reversed during the period are material in
financial statements of the reporting enterprise as a whole, an enterprise should
description of the following:
- the main events and circumstances that led to the recognition of these impair
no information is disclosed.
An enterprise that applies AS-17, Segmental Reporting,should disclose the follwi
segment based on an enterprise's primary format.
- the amount of impairment losses recognised in the statement of profit and lo
against revaluation surplus during the period,
- the amount of reversals of impairment losses recognised in the statement of
directly in revaluation surplus during the period,
If an impairment loss for an individual asset or a cash- generating unit is recogni
the period and is material to the financial statements of the reporting enterprise
enterprise should disclose:
- the reportable segment to which the asset belongs, based on the
format as defined in AS-17
- the amount of the impairment loss recognised or reversed by clas
reportable segment based on enterprise's primary format.
-
7/30/2019 816649 56111 Disclosure Requirements of As
61/75
s.it and loss .
us.
urplus.
airment loss.
lue in use
selling price.
disclosed.
has changed since the
t (if any)
te or previous
aggregate to the
disclose a brief
ments losses for which
ng for each reportable
s and directly
rofit and loss and
ed or reversed during
as a whole, an
nterprise's primary
of assets and by
-
7/30/2019 816649 56111 Disclosure Requirements of As
62/75
A.S-29 Provisions, Contingent Liabilities and Contingent Assets.
Disclosure Requirements
1 for each class of provision, an enterprise should disclose:
. - the carrying amount at the beginning and end of the perod- additional provision made in the period, including increases to existing provisi
- amounts used during the period .
- unused amounts reversed during the period .
2 an enterprise should disclose the following for each class of provision:
3
- an estimate of its financial effect
- an indication of the uncertainties relating to any outflow.
- the possibility of reimbursement.
4
- a brief description of the nature of the obligation and expected timing any res
economic benefits .
- an indication of the uncertainity about those outflows . Where necessary to p
information, an enterprise should disclose the major assumpations made con
- the amount of any expected reimbursement, stating the amount of any asset
For that expected reimbursement .
unless the possibility of any outflow in settlement is remote, an enterprise shoul
class of contingent liability at the balance sheet date a brief description of the n
liability and, where practicable:
where any of the information is not disclosed because it is not practicable to do
stated.
-
7/30/2019 816649 56111 Disclosure Requirements of As
63/75
on .
ulting outflows of
ovide adquate
cerning future events.
that has been recog.
d disclose for each
ture of the contingent
so, the facts should be
-
7/30/2019 816649 56111 Disclosure Requirements of As
64/75
A.S-30 Financial Instruments: Recognition and Measurement
Disclosure Requirements
This standard deals with only recognition and measurement of fianacial instruments, its disc
seprately in AS-32
-
7/30/2019 816649 56111 Disclosure Requirements of As
65/75
losures are given
-
7/30/2019 816649 56111 Disclosure Requirements of As
66/75
A.S-31 Financial Instruments: Presentation
Disclosure Requirements
This standard deals only with presentation of financial instruments, disclosures ae seprately
-
7/30/2019 816649 56111 Disclosure Requirements of As
67/75
given in AS-32
-
7/30/2019 816649 56111 Disclosure Requirements of As
68/75
A.S-32 Financial Instruments: Disclosures
Disclosure Requirements
1
- financial assets at fair value through profit or loss, showing seprately:
- those designated as such upon initial recognition
- those classified as held for trading in accordance with AS-30.
- held-to-maturity investments.
- loans and receivables.
- available-for-sale financial assets.
- financial liabilities at fair value through profit or loss, showing seprately:
- those designated as such upon initial recognition
- those classified as held for trading in accordance with AS-30.
2
- the maximum exposure to credit risk.
- using an alternative method the entity believes more faithfully.
3
- using an alternative method the entity believes more faithfully.
4
5
- the nature of the assets.
- the amount of change in the fair value of any related credit derivatives, cumulor receivable was designated.
The carrying amount of each of the following categories as deined in AS-30, sho
on the face of the balance sheet or in notes to accounts.
If the entity has designated a loan or receivable as at fair value through profit or
disclose:
- the amount by which any related credit derivatives or similar instruments miti
exposure to credit risk.
- the amount of change, during the period and cumulatively, in the fair value of
that is attributable to changes in the credit risk of the financial asset determin
- as the amount change in its fair value that is not attributable to ch
condition that give rise to market risk.
If the entity has designated a financial liability as at fair value through profit or lo
AS-30, it should disclose:
- the amount of change, during the period and cumulatively, in the fair value of
that is attributable to changes in the credit risk of the financial liability determ
- as the amount change in its fair value that is not attributable to ch
condition that give rise to market risk.
- the difference between the financial liability's carrying amount and the aount
contractually required to pay at maturity to the holder of the obligation.
If the entity has reclassified a financial asset it should disclose the amount reclas
each category and the reason for that reclassification.
An entity may have transferred financial assets in such a way that part or all of t
not qualify for derecognition. The entity should disclose for each class of such fi
-
7/30/2019 816649 56111 Disclosure Requirements of As
69/75
- the nature of the risks and rewards of ownership to which the entity remain e
6 An entity should disclose:
- the terms and conditions relating to pledge.
7
- the fair value of the collateral held.
- the fair value of any such collateral sold or repledged.
- the term s and conditions associated with its use of the collateral.
8
9
10 for loan payab;e recognised at the reporting date, an entity should disclose:
- the carrying amount of loans payable in default at the reporting date.
- wheather the default was remedied, or the terms of loan payable were reneg
11
- net gains and losses on:
- held-to-maturity investments.
- loans and receivables.
- available-for-sale financial assets.
- financial liabilities measured at amortized cost.
- fee income and expense arising from:
- financial assets or financial libilities that are not at fair value.
- trust and other fiduciary activities.
- interest income on impaired financial assets accrued
- the amount of any impairment loss for each class of financial asset.
If an entity has issued an instrument that conatins both a liability and an equity c
instrument has embedded derivatives whose values are interdependent, it shoul
existence of those features.
- when the entity continues to recognise all of the assets, the carrying amounts
the associated liabilities.
- when the entity continues to recognise the assets to the extent of its continui
total carrying amount of the original assets
- the carrying amount of financial assets it has pledged as collateral for liabilitie
liabilities.
When the entity holds collateral and is permitted to sell or repldge the collateral
default by the owner of collateral, it should disclose:
when financial assets are impaired by credit losses and the entity records the im
account rather than directly reducing the carrying amount of the asset it should
reconciliation of changes in that account during the period for each class of fina
- details of any defaults during the period of principal, interest, sinking fund, or
those loans payable.
An entity should disclose the following term of income, expense,gain or losses ei
the financial statement or in notes:
- financial assets or financial liblities as at fair value andfinancial ass
that are classified for held for trading.
- total interest income and total interest expense for financial assets or financia
at fair value.
-
7/30/2019 816649 56111 Disclosure Requirements of As
70/75
12 An entity should disclose the following seprately for each type of hedge.
- a description for each type of hedge.
- a description of financial instrument designated as hedging instrument and th
- the nature of risk being hedged.
13 for cash flow hedge entity should disclose:- the periods when cash flows are expected to occour.
- a description of any forecast transaction for which hedge accounting has previ
- the amount that was recognised in the appropriate equity account.
14 An entity should disclose seprately:
- in fair value hedges, gains or losses:
- on the hedging instruments.
- on the hedging item attributable to hedged risk.
15 An entity should disclose:
- wheather fair values are determined, in whole or in part.
16 For each type of risk arising from financial instruments, an entity should disclose
- the exposure of risk and how they arise.
- its objectives, policies, processes for managing the risk and methods used to
- any change in above from previos period.
17 For each type of risk arising from financial instruments, an entity should disclose
- summary quantitative data about its exposure to that risk at the reporting dat
- Concentrations of risk, if not apparent from above.
18 An entity should disclose by class of financial instrument:
- the amount that best represent its maximum exposure to credit risk at reporti
- in respect of amount disclosed above, a description of collatral held as securit
- information about credit quality of financial assets that are neither past due o
19 An entity should disclose by class of financial assets.
- an analysis of the age of financial assets that are past due as at the reporting
- an analysis of financial assets that are indivisually determined to be impaired
- for the amounts disclosed above, a description of collateral held by the entity
- the amount that was removed in the appropriate equity account and included
and loss
- the amount that was removed in the appropriate equity account and included
other carrying amount of non financial aeet or liability.
- the ineffectiveness recognised in the statement of profit and loss that arises f
- the ineffectiveness recognised in the statement of profit and loss that arises f
invetsments in foreign operations.
- the methods and, when a valuation technique is used, the assumptions applie
values of each class of financial assets or financial libilities.
-
7/30/2019 816649 56111 Disclosure Requirements of As
71/75
20
- nature and carrying amount of assets obtained.
- when assets are not readily convertible into cah, its policiesfor disposing of su
21 An entity should disclose:
- a maturity analysis for financial liabilities that shows the remaining contractua- a description how it manages its liquidity risk inherant in above.
22 if entity prepares a sensitivity analysis the entity should disclose.
23 if entity does not comply with above, it should disclose:
- a sensitivity analysis for each type of market risk to which the entity is exopse
- the methods and assumptions used in prepairing the sensitivity analysis.
- changes from previous period in the methods and assumptions used, and reas
- an explanation of the objective of the method used and limitations that may r
not fully reflecting the fair value and liabilities involved.
when an entity obtains financial or non- financial assets during the period by tak
collateral, it should disclose.
- the explanation of the method used in preparing such a sensitivity analysis, an
parameters and assumptions underlying.
-
7/30/2019 816649 56111 Disclosure Requirements of As
72/75
atively since the loan
ld be disclosed either
loss, it should
gate that maximum
the loan or receivable
ed either:
anges in market
ss,in accordance with
the financial liability
ined either:
anges in market
the entity would be
sified into and out of
e financial assets do
ancial assets:
-
7/30/2019 816649 56111 Disclosure Requirements of As
73/75
xposed.
tiated.
omponent and the
ld disclose the
of the assets and of
ng involvement, the
s or contingent
in the absense of
pairment in seprate
disclose a
cial assets.
redemption terms of
ther on the face of
ts or financial liblities
l libilities that are not
-
7/30/2019 816649 56111 Disclosure Requirements of As
74/75
eir fair values.
iousl been used.
:
easure the risk.
:
e.
ing date.
y
r impaired.
ate.
s at reporting date.
as security.
in statement of profit
in the initial cost or
om cash flow hedges.
om hedges of net
d in determining fair
-
7/30/2019 816649 56111 Disclosure Requirements of As
75/75
ch assets.
l maturities.
d at the reporting date.
ons for such changes.
esult in information
ing possession of
d of the main
top related