This book is prepared exclusively for the Intermediate Level of Chartered Accountancy Examination requirement. It covers the entire revised syllabus as per ICAI under the New Scheme of Education and Training. It applies to Group 1/Paper 1 – Accounting & Group 2/Paper 5 – Advanced Accounting.

This book will be helpful for students of CA-Inter/IPCC, CMA-Intermediate, and other specialized courses.

The Present Publication is the 16^th Edition & updated till 30^th April 2022 for CA-Inter | New Syllabus | Nov. 2022/May 2023 exams. This book is authored by CA Ravi Kanth Miriyala & CA Sunitanjani Miriyala, with the following noteworthy features:

• [Self-preparatory Book] The book has been written in a classroom-style-teaching methodology so that the average student can understand & master the subject without assistance
• [Simple & Lucid Language] along with a step-by-step approach for better understanding
• [Conceptual Understanding with 500+ Detailed Examples] for the Standards
• [Diagrammatic Presentation] is given wherever required
• [Previous Year Question & Answers] including the May 2022 Exam w.r.t. questions related to accounting standards) for CA-Inter, IPCC & PCC
• [Weightage of Accounting Standards] in previous CA Intermediate Exams
• [Most Amended & Updated] This book is updated with the recent revisions made by the Ministry of Corporate Affairs, and it covers all amendments till April 2022
• [Student-Oriented Book] The authors have developed this book, keeping in mind the following factors:
  • Interaction of the authors with their students, with specific emphasis on difficulties faced by students in the examinations
  • Shaped by the authors’ 10+ years experience of teaching the subject matter at different levels
  • Reactions and responses of students have also been incorporated at different places in the book

The detailed contents of this book are as follows:

• Chapter A – Introduction
• Chapter B – Preface to Accounting Standards (Very Important)
• Chapter C – Framework for Preparation and Presentation of Financial Statements
• AS 1 – Disclosure of Accounting Policies
• AS 2 – Valuation of Inventories
• AS 3 – Cash Flow Statement
• AS 4 – Contingencies and Events Occurring after the Balance Sheet Date
• AS 5 – Net Profit or Loss for the Period, Prior Period Items and Changes in
  Accounting Policies
• AS 7 – Construction Contracts
• AS 9 – Revenue Recognition AS 10 – Property, Plant and Equipment (PPE)
• AS 11 – The Effects of Changes in Foreign Exchange Rates
• AS 12 – Accounting for Government Grants
• AS 13 – Accounting for Investments
• AS 14 – Accounting for Amalgamation
• AS 16 – Borrowing Costs
• AS 17 – Segment Reporting
• AS 18 – Related Party Disclosures
• AS 19 – Leases
• AS 20 – Earnings Per Share
• AS 22 – Accounting for Taxes on Income
• AS 24 – Discontinuing Operations
• AS 26 – Intangible Assets
• AS 29 – Provisions, Contingent Liabilities and Contingent Assets