As 1 - 29

The Companies

Accounting Standards

Rules, 2006

The Institute of Chartered Accountants of India NEW DELHI

The Companies (Accounting Standards) Rules, 2006

Year of Publication: 2007 Price : Rs. 180.00 (with CD) ISBN : 971-81-8441-010-5

Published by : The Institute of Chartered Accountants of India Indraprastha Marg, New Delhi Web-site : www.icai.org

Printed by : M/s Aravali Printers & Publishers Pvt. Ltd. W - 30, Okhla Industrial Area, Phase-II New Delhi-110020

CONTENTS

Arrangement of Rules

RULE 1. 2. 3. 4. Short title and commencement Definitions Accounting Standards Obligation to comply with the Accounting Standards Page 1 1 2 2 2 3 3 7 11 27 32

ANNEXURE A. GENERAL INSTRUCTIONS ANNEXURE B. ACCOUNTING STANDARDS Accounting Standard (AS) 1 : Disclosure of Accounting Policies Accounting Standard (AS) 2 : Valuation of Inventories Accounting Standard (AS) 3 : Cash Flow Statements Accounting Standard (AS) 4 : Contingencies and Events Occurring After the Balance Sheet Date Accounting Standard (AS) 5 : Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies Accounting Standard (AS) 6 : Depreciation Accounting Accounting Standard (AS) 7 : Construction Contracts Accounting Standard (AS) 9 : Revenue Recognition Accounting Standard (AS) 10 : Accounting for Fixed Assets Accounting Standard (AS) 11 : The Effects of Changes in Foreign Exchange Rates Accounting Standard (AS) 12 : Accounting for Government Grants Accounting Standard (AS) 13 : Accounting for Investments Accounting Standard (AS) 14 : Accounting for Amalgamations

36 41 52 59 67 76 81 87

Accounting Standard (AS) 15 : Employee Benefits Accounting Standard (AS) 16 : Borrowing Costs Accounting Standard (AS) 17 : Segment Reporting Accounting Standard (AS) 18 : Related Party Disclosures Accounting Standard (AS) 19 : Leases Accounting Standard (AS) 20 : Earnings Per Share Accounting Standard (AS) 21 : Consolidated Financial Statements Accounting Standard...