PART 6: Complete Ind AS Master Reference Table (All 41 Standards)

1

IAS 1

Presentation of Financial Statements

Framework for structuring and presenting the 5 financial statements

2

IAS 2

Inventories

Value at lower of cost and NRV; LIFO banned; FIFO and weighted average allowed

7

IAS 7

Statement of Cash Flows

Classify cash flows into Operating, Investing, and Financing activities

8

IAS 8

Accounting Policies, Changes & Errors

Policy change = retrospective; Estimate change = prospective; Error = retrospective

10

IAS 10

Events After Reporting Period

Adjusting events (adjust financials) vs Non-adjusting events (disclose only)

12

IAS 12

Income Taxes (Deferred Tax)

Balance sheet approach using temporary differences; DTA recognised if probable future profits

16

IAS 16

Property, Plant and Equipment

Recognise, depreciate with component accounting; cost includes all directly attributable amounts

19

IAS 19

Employee Benefits

Gratuity, pension (defined benefit) requires actuarial valuation; actuarial gains/losses go to OCI

20

IAS 20

Government Grants

Recognise systematically over periods matching related costs; deduct from asset or show as income

21

IAS 21

Foreign Exchange

Functional vs presentation currency; monetary items at closing rate; translation differences to OCI

23

IAS 23

Borrowing Costs

Capitalise interest on qualifying assets during construction; expense all other borrowing costs

24

IAS 24

Related Party Disclosures

Disclose all transactions with related parties including KMP, subsidiaries, associates

27

IAS 27

Separate Financial Statements

How parent shows subsidiaries in standalone books (at cost or fair value)

28

IAS 28

Associates and Joint Ventures

Equity method: adjust investment for share of profit and dividends

29

IAS 29

Hyperinflationary Economies

Restate financials for entities operating in hyperinflationary environments

32

IAS 32

Financial Instruments: Presentation

Equity vs liability classification; compound instruments split into debt and equity

33

IAS 33

Earnings Per Share

Calculate Basic EPS and Diluted EPS; mandatory disclosure on face of P&L

34

IAS 34

Interim Financial Reporting

Minimum content required in quarterly and half-yearly reports

36

IAS 36

Impairment of Assets

If carrying amount > recoverable amount, write down; annual goodwill impairment test

37

IAS 37

Provisions and Contingencies

Provision = recognised liability (probable); Contingent liability = disclosed only (possible)

38

IAS 38

Intangible Assets

Research costs expensed; Development costs capitalised if 6 criteria met

40

IAS 40

Investment Property

Property held for rent/capital appreciation; cost model ONLY in India (IFRS allows fair value)

41

IAS 41

Agriculture

Biological assets at fair value less costs to sell

101

IFRS 1

First-time Adoption of Ind AS

Transition rules, exemptions, and deemed cost options for first-time adopters

102

IFRS 2

Share-based Payment (ESOPs)

ESOPs expensed at fair value over vesting period; equity-settled vs cash-settled

103

IFRS 3

Business Combinations

Acquisition method only; PPA at fair value; goodwill not amortised; pooling banned

104

IFRS 4

Insurance Contracts (old)

Transitional standard for insurance; being replaced by Ind AS 117

105

IFRS 5

Non-current Assets Held for Sale

Measure at lower of carrying amount and FVLCD; stop depreciation; present separately

106

IFRS 6

Exploration for Mineral Resources

Oil, gas, mining: special rules for exploration and evaluation expenditure

107

IFRS 7

Financial Instruments: Disclosures

Extensive risk disclosures: credit risk, liquidity risk, market risk, fair value hierarchy

108

IFRS 8

Operating Segments

Disclose segments as reported internally to CODM (Chief Operating Decision Maker)

109

IFRS 9

Financial Instruments

3 categories (Amortised Cost/FVOCI/FVTPL); ECL model; hedge accounting

110

IFRS 10

Consolidated Financial Statements

Control = power + variable returns + ability to use power; full consolidation

111

IFRS 11

Joint Arrangements

Joint operations (account for own share) vs joint ventures (equity method)

112

IFRS 12

Disclosure of Interests in Other Entities

Disclose risks and financial effects of interests in subsidiaries, associates, JVs

113

IFRS 13

Fair Value Measurement

3-level hierarchy: Level 1 (quoted prices), Level 2 (observable), Level 3 (unobservable)

114

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Regulatory Deferral Accounts

For rate-regulated entities like power distribution companies

115

IFRS 15

Revenue from Contracts

5-step model: identify contract, obligations, price, allocate, recognise when satisfied

116

IFRS 16

Leases

Lessee: all leases on balance sheet (ROU asset + lease liability); 2 exemptions

117

IFRS 17

Insurance Contracts (new)

New comprehensive standard replacing Ind AS 104 for insurance accounting