Accounting standard with simple explanation

1.	Accounting standard with simple explanation
Answer» AS-1 ------ It tells about introduction and basic things to be followed in accounting, for Uniformity. AS-2 ------ VALUATION of Inventories: TALKS about how to value Closing Stock( i.e cost or NRV) AS-3 ------ Cash Flow Statement ( how to prepare ) AS-4 ----- Contigencies and Events occuring after Balance Sheet ( i.e transactions AFFECTING after preparation of balance sheet. AS-7 ---- CONSTRUCTION Contract: how to ACCOUNTS expenses in the period of construction AS-10 ---- Plant, Property and Equipment

Answer»

AS-1 ------ It tells about introduction and basic things to be followed in accounting, for Uniformity.

AS-2 ------ VALUATION of Inventories: TALKS about how to value Closing Stock( i.e cost or NRV)

AS-3 ------ Cash Flow Statement ( how to prepare )

AS-4 ----- Contigencies and Events occuring after Balance Sheet ( i.e transactions AFFECTING after preparation of balance sheet.

AS-7 ---- CONSTRUCTION Contract: how to ACCOUNTS expenses in the period of construction

AS-10 ---- Plant, Property and Equipment

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