Accounting Standard 7

Oct 28, 2012

60 likes | 441 Views

Objective. To prescribe the accounting treatment of revenue and costs associated with Construction Contracts.. Construction Contract. A construction contract is a contractNegotiated for the construction of an asset or a combination of assetsClosely interrelated or interdependent in terms of their

Share Presentation

Embed Code

Link

hamlet

Download Presentation

Accounting Standard 7

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

Accounting Standard: 2

Accounting Standard: 2. Valuation of Inventories. Accounting Standard-2 deals with:. Determination of value at which inventories are carried in B/S, Ascertainment of cost (manner), Situation in which carrying cost of inventories is written below cost. Inventories are assets:.

3.31k views • 10 slides

ACCOUNTING STANDARD 13

ACCOUNTING STANDARD 13. INVESTMENT. It is the assets held by way of dividend, interest, and rentals, for capital appreciation or for other benefits.

953 views • 28 slides

ACCOUNTING STANDARD-9

Hire-purchase/ Lease agreementsGovernment Grants etc.Construction ContractsInsurance Contracts. It does not deal with Revenue from:. Identifies the point of time when the revenue is to be recognized and booked as income in financial statements.Lays down additional restrictive conditions in resp

883 views • 21 slides

Accounting Standard: 3

Accounting Standard: 3. Cash Flow Statement. Accounting standard-3 is mandatory for listed companies and entity with a turnover exceeding Rs.50 crore . Accounting standard-3 deals with cash flow during the period from operating, investing and financing activities.

385 views • 8 slides

ACCOUNTING STANDARD-7

ACCOUNTING STANDARD-7. CONSTRUCTION CONTRACTS. CA. PANKAJ AGRWAL B.Com(Hons), LL.B., FCA. OBJECTIVE & SCOPE .

1.85k views • 35 slides

Standard 7

Standard 7. Students will explain the process of economic growth, its regional and national impact in the first half of the 19 th century, and the different responses to it. A. Industrial Revolution.

530 views • 39 slides

Accounting Standard : 1

Accounting Standard : 1. Disclosure of Accounting Policies. Accounting Policy: Accounting policy refer to the specific accounting principles and the method of applying those principle adopted by the enterprises in the preparation and presentation of financial statements .

577 views • 6 slides

Accounting Standard 7

Accounting Standard 7. Quick Facts. Objectives. Types of Contract. Defining the terms. The 3 R’s. Combining & Segmenting. Additional asset. Contract Revenue. Defining the terms. Defining the terms Contd. Contract Cost. Cost Components. Excluded from Contract Cost.

545 views • 22 slides

ACCOUNTING STANDARD-9

ACCOUNTING STANDARD-9. REVENUE RECOGNITION. It does not deal with Revenue from:. Hire-purchase/ Lease agreements Government Grants etc. Construction Contracts Insurance Contracts. REVENUE RECOGNITION Standard… what it contains.

1.78k views • 26 slides

ACCOUNTING STANDARD -2

ACCOUNTING STANDARD -2. VALUATION OF INVENTORIES. PURPOSE. Specifies the principals for valuing the inventory. Disclosure of the specific policies adopted by the management for the valuation of inventory. SCOPE. This statement should be applied in accounting for inventories other than :

558 views • 10 slides

ACCOUNTING STANDARD-3

ACCOUNTING STANDARD-3. CASH FLOW STATAEMENTS. PURPOSE. To provide information about the historical changes in cash and cash equivalents of an enterprise by means of a cash flow statement. Classification of cash flows into operating, investing and financing activities. SCOPE.

467 views • 9 slides

ACCOUNTING STANDARD- 16

ACCOUNTING STANDARD- 16. BORROWING COSTS. DEFINITIONS (Para 3). Borrowing Costs are interests and other costs incurred by an enterprise in connection with the borrowing of funds.

390 views • 15 slides

Standard 7

Standard 7. U.S. History. Standard 7. Students will explain the process of economic growth, its regional and national impact in the first half of the 19th century, and the different responses to it. . Eli Whitney and the Industrial Revolution.

223 views • 13 slides

ACCOUNTING STANDARD-11

ACCOUNTING STANDARD-11. The Effects of Changes in Foreign Exchange Rates. Presented By: CA K. L.JHANWAR. SCOPE. Accounting for transactions in foreign currencies Translating the financial statements of foreign operations

2.02k views • 16 slides

Accounting Standard-6 DEPRECIATION ACCOUNTING

Accounting Standard-6 DEPRECIATION ACCOUNTING. Presented by: Subodh Jain S H R & Co. Concept of Depreciation. Depreciation is a measure of the wearing out, consumption or other loss of value of a depreciable asset arising from: Use ; Passage of time ;

2.28k views • 17 slides

ACCOUNTING STANDARD 4

ACCOUNTING STANDARD 4. CONTINGENCIES AND EVENTS OCCURING AFTER THE BALANCESHEET DATE. EVENTS OCCURRING AFTER THE BALANCE SHEET DATE.

812 views • 13 slides

Accounting Standard 29

Accounting Standard 29. Provisions,Contingent Liabilities and Contingent Assets ( applicable to level 1 enterprises, however disclosure requirement not applicable to level 2 & 3 enterprises ). Objective.

600 views • 40 slides

International Accounting Standard 37

International Accounting Standard 37. Provisions, Contingent Liabilities and Contingent Assets. International Accounting Standard 37. Scope Definitions Recognition Measurement Reimbursement Review and use of provisions Disclosures. Scope of standard.

1.85k views • 26 slides

ACCOUNTING STANDARD -12

ACCOUNTING STANDARD -12. ACCOUNTING FOR GOVERNMENT GRANTS. RELEVANT DEFINITIONS.

626 views • 11 slides

ACCOUNTING STANDARD - 14

ACCOUNTING STANDARD - 14 . ACCOUNTING FOR AMALGAMATIONS. J.P., KAPUR & UBERAI. PURPOSE. Accounting for amalgamations, Treatment of any resultant goodwill or reserves.

1.14k views • 11 slides

ACCOUNTING STANDARD -12

ACCOUNTING STANDARD -12. ACCOUNTING FOR GOVERNMENT GRANTS. J.P., KAPUR & UBERAI. RELEVANT DEFINITIONS.

245 views • 11 slides

Accounting Standard - 22

Accounting Standard - 22. Accounting for Taxes on Income - By Pratap Karmokar, ACA. Index. Introduction Objective Scope Definitions Recognition Re-assessment of unrecognised Deferred Tax Assets Measurement Review of Deferred Tax Assets Presentation and disclosure

2.08k views • 25 slides

More Related