Match List I with List II List I List II A. Ind - AS : 1 I. Provisions, Contingent Liabilities and Contingent Assets B. Ind - AS : 29 II. Consolidated Financial Statements C. Ind - AS : 37 III. Presentation of Financial Statements D. Ind - AS : 110 IV. Financial reporting in Hyperinflationary Economies
A ‐ lll, B ‐ lV, C ‐ l, D ‐ ll
Ind AS 1 concerns presentation of financial statements; Ind AS 29 hyperinflationary economies; Ind AS 37 provisions and contingent liabilities/assets; and Ind AS 110 consolidated financial statements. Thus A–III, B–IV, C–I, D–II.
Important Questions from Indian Accounting Standards and IFRS
- Preparation of consolidated Balance Sheet of Holding Company and its subsidiary company is done as per
Match the items of List - I with those of List - II and indicate the correct code :
List - I (Accounting Standard) List - II (Relationship) (a) AS - 6 (iii) Depreciation Accounting (b) AS - 3 (iv) Accounting for Cash Flow Statement (c) AS - 10 (ii) Accounting for Fixed Assets (d) AS - 21 (i) Accounting for Consolidated Financial Statements Which one of the following Ind AS is related to “The Effects of Changes in Foreign Exchange Rates”?
- Accounting Standard-6 is meant for
AS–10 (new) has come into effect from
