Taxmann’s New Accounting Standards {AS} (Notified Under Companies Act 2013 and Enfoeced with Effect Form 1-4-2021) Edition 2021


Taxmann’s New Accounting Standards {AS} (Notified Under Companies Act 2013 and Enfoeced with Effect Form 1-4-2021) Edition 2021

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Taxmann’s New Accounting Standards {AS} (Notified Under Companies Act 2013 and Enfoeced with Effect Form 1-4-2021) Edition 2021


New Accounting Standards (AS) contains the updated Accounting Standards issued under the Companies (Accounting Standard) Rules, 2021, with effect from 01-04-2021. It also provides an overview of all changes incorporated in the new Accounting Standards vis-à-vis the previous version; in other words, it presents a comparative study of Accounting Standard Rules 2006 & Accounting Standards Rules 2021.

The Present Publication is the Latest Edition, authored by Taxmann’s Editorial Board, updated till 24th June 2021, with the following noteworthy features:

  • [Text of New Accounting Standard Rules, 2021] notified under Companies (Accounting Standard) Rules, 2021 (Enforced w.e.f. 1-4-2021);
  • [Complete Checklist] on the applicability of Accounting Standards for Small and Medium Companies (SMCs) and Non-SMCs; and
  • [Detailed Guide on Exemptions/Relaxations] in Accounting Standards for SMCs

The contents of the book are as follows:

  • Arrangement of Rules
    • Short Title and Commencement
    • Definitions
    • Accounting Standards
    • Obligation to Comply with Accounting Standards
    • Qualification for Exemption or Relaxation in respect of SMC
  • General Instructions
  • 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) 7: Construction Contracts
    • Accounting Standard (AS) 9:  Revenue Recognition
    • Accounting Standard (AS) 10:  Property, Plant and Equipment
    • 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
    • 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 (AS) 22: Accounting for Taxes on Income
    • Accounting Standard (AS) 23: Accounting for Investments in Associates in Consolidated Financial Statements
    • Accounting Standard (AS) 24: Discontinuing Operations
    • Accounting Standard (AS) 25: Interim Financial Reporting
    • Accounting Standard (AS) 26: Intangible Assets
    • Accounting Standard (AS) 27: Financial Reporting of Interests in Joint Ventures
    • Accounting Standard (AS) 28: Impairment of Assets
    • Accounting Standard (AS) 29: Provisions, Contingent Liabilities and Contingent Assets

About the author


Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of Editor-In-Chief Mr. Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in our publications and research platform. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
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Weight 0.4 kg







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