Guidelines

What are the 27 accounting standards?

What are the 27 accounting standards?

STATUS OF ACCOUNTING STANDARDS ISSUED BY ICAI FOR CORPORATES

Accounting Standard (AS) Title of the AS Refer Note No.
AS 25 Interim Financial Reporting
AS 26 Intangible Assets
AS 27 Financial Reporting of Interests in Joint Ventures 7
AS 28 Impairment of Assets 8

When an entity elects to prepare separate financial statements it shall account for its investment in associates?

If an entity elects, in accordance with paragraph 24 of IPSAS XX (ED 50), to measure its investments in associates or joint ventures at fair value through surplus or deficit in accordance with IPSAS 29, it shall also account for those investments in the same way in its separate financial statements.

Is an investment in subsidiary a financial asset?

Investments in equity instruments issued by other entities, however, are financial assets. For example, investments in subsidiaries are accounted for under IFRS 3, Business Combinations, and employers’ assets and liabilities under employee benefit plans, which are accounted for under IAS 19, Employee Benefits.

Who is required to present separate financial statements?

IAS 27 prescribes the accounting and disclosure requirements for investments in subsidiaries, joint ventures and associates when an entity elects, or is required by local regulations, to present separate financial statements.

What does IAS 27 mean for separate financial statements?

The accounting standard IAS 27 sets out the requirements for preparing and presenting separate financial statements for investments in subsidiaries, joint ventures and associates.

What are the accounting standards for IAS plus?

# Name Issued IAS 1 Presentation of Financial Statements 2007* IAS 2 Inventories 2005* IAS 3 Consolidated Financial StatementsSuperse 1976 IAS 4 Depreciation AccountingWithdrawn in 1999

When did the International Accounting Standards Committee adopt IAS 26?

In April 2001 the International Accounting Standards Board adopted IAS 26 Accounting and Reporting by Retirement Benefit Plans, which had originally been issued by the International Accounting Standards Committee in January 1987. In order to view our Standards you need to be a registered user of the site.

How are joint ventures accounted for in IAS 27?

If an entity elects, in ac­cor­dance with IAS 28 (as amended in 2011), to measure its in­vest­ments in as­so­ci­ates or joint ventures at fair value through profit or loss in ac­cor­dance with IFRS 9, it shall also account for those in­vest­ments in the same way in its separate financial state­ments. [IAS 27 (2011).11]