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Finance & Accounting Accounting & Bookkeeping Accounting

Accounting Standards A Complete Study for CA/CMA/CS

Course on Accounting Standards for CA / CMA / CS / MBA / M Com / B Com Students
Rating: 4.2 out of 54.2 (110 ratings)
889 students
Created by Raja Natarajan, B.Com., PGDBA, FCA
Last updated 1/2021
English
English [Auto]
30-Day Money-Back Guarantee

What you'll learn

  • Theory and Practice of Accounting Standards
Curated for the Udemy for Business collection

Requirements

  • Basic knowledge of Accounting

Description

Welcome to this course "Accounting Standards A Complete Study"

The objective of this course is to have a complete overview of theory and practice of Accounting Standards issued by Institute of Chartered Accountants of India. In this course, i have taken efforts to explain each and every part of Accounting Standards and they will be supported by case studies as well.

Knowledge of Accounting Standards is very essential from Examination perspective as well from Practical angle. Because, Accounting Standards significantly influence the way Financial Statements are prepared and presented. Students pursuing professional courses like Chartered Accountancy, Cost and Management Accountancy, Company Secretaryship, etc. should have through knowledge of Accounting Standards.

I will be covering following Accounting Standards in this course:

AS 1 Disclosure of Accounting Policies

AS 2 Valuation of Inventories

AS 3 Cash Flow Statements

AS 4 Contingencies and events occuring after Balance Sheet Date

AS 5 Net Profit or Loss for the period, Prior period items and Changes in Accounting Policies

AS 9 Revenue Recognition

AS 10 Property, Plant and Equipment

AS 11 Effects of Changes in Foreign Exchange Rates

AS 12 Accounting for Government Grants

AS 13 Accounting for Investments

AS 16 Borrowing Costs

AS 17 Segment Reporting

AS 22 Accounting for Taxes on Income

This course is structured in self paced learning style. You can learn these number crunching topics at your own pace. Use head phone, have note pad / excel opened to scribble or take note of what you are learning. 


Wish you a happy learning.

Who this course is for:

  • CA Intermediate Students
  • CMA Students
  • CS Students

Course content

17 sections • 256 lectures • 20h 54m total length

  • Preview01:32

  • Introduction to AS 1 Disclosure of Accounting Policies
    04:04
  • Fundamental Accounting Assumptions
    08:40
  • Accounting Policies
    07:49
  • Going Concern Assumption Case Study
    12:23
  • Quiz on AS 1 DISCLOSURE OF ACCOUNTING POLICIES
    5 questions

  • AS 2 Introduction
    02:25
  • Items excluded from scope of AS 2
    02:14
  • Preview01:31
  • Inventory cost ascertainment
    01:23
  • Valuation of Inventory
    04:04
  • Measurement of Inventory
    03:01
  • Cost of Inventory
    08:44
  • Joint Products or Byproducts
    00:54
  • Cost Formula
    01:09
  • Other Techniques of Cost Measurement
    01:38
  • Net Realisable Value
    01:44
  • Disclosure Requirements
    00:56
  • Preview03:14
  • Treatment of Fixed Overheads Case Study
    07:07
  • Computation of Cost of Inventory Case Study
    03:03
  • Valuation of Inventory Net Realiable Value Item by Item Basis Case Study
    02:37
  • Treatment of Normal and Abnormal Loss and Valuation of Inventory Case Study
    05:04
  • Treatment of Production Overheads in Valuation of Inventory Case Study
    03:07
  • Quiz on AS 2 VALUATION OF INVENTORY
    5 questions

  • Cash Flow Statement Introduction (Talking Head)
    15:22
  • Cash Flows from Various Activities (Talking Head)
    03:50
  • Cash Flow Statement Direct Method (Talking Head)
    06:49
  • Cash Flow Statement Indirect Method (Talking Head)
    28:44
  • Case Study 1 Cash flow study (Talking Head)
    25:57
  • Case Study 2 Cash flow study (Talking Head)
    36:04
  • Case Study 3 Cash flow study (Talking Head)
    27:43

  • Introduction to AS 4
    01:16
  • Preview00:58
  • Adjusting Event and Non Adjusting Event
    02:31
  • Events not affecting Financial Statement
    01:08
  • Special Nature Event (Dividends Declared)
    00:44
  • Going Concern and Events occuring after Balance Sheet Date
    00:57
  • Case Study1 Events occurring after Balance Sheet Date
    03:38
  • Case Study2 Events occurring after Balance Sheet Date
    01:34
  • Case Study3 Events occurring after Balance Sheet Date
    03:56
  • Case Study4 Events occurring after Balance Sheet Date
    02:35
  • Case Study5 Events occurring after Balance Sheet Date
    03:40
  • Case Study6 Events occurring after Balance Sheet Date
    02:44
  • Case Study7 Events occurring after Balance Sheet Date
    03:47
  • Case Study8 Events occurring after Balance Sheet Date
    04:05
  • Case Study 9 Events occuring after Balance Sheet Date
    01:26
  • Case Study 10 Events occuring after Balance Sheet Date
    03:48
  • Case Study 11 Events occuring after Balance Sheet Date
    02:37

  • AS 5 Introduction
    01:58
  • Profit or Loss from Oridnary Items
    01:31
  • Extra Ordinary Items as per AS 5
    02:30
  • Exceptional Items
    02:00
  • Preview01:13
  • Changes in Accounting Estimates
    07:54
  • Changes in Accounting Policy
    03:14
  • Case Study - Prior Period Item
    03:03
  • Case Study - Disclosure for Ordinary Items
    02:27
  • Case Study - Disclosure for Ordinary Items
    03:07
  • Case Study Prior Period Item
    01:33
  • Case Study Change in Accounting Policy
    02:50

  • Construction Contract and its Type
    05:17
  • Objectives of Accounting for Construction Contract
    03:21
  • Applicability of AS7
    01:26
  • Measurement of Contract Revenue
    07:06
  • Contract Costs - Inclusion and Exclusions
    04:25
  • Basic Principles of Recognition of Revenue and Expenses
    05:34
  • Composition of Contract Revenue
    01:48
  • Provision for Expected Losses
    00:45
  • Effect of change in estimate in Construcition Contract
    02:00
  • Accounting Disclosures by Construction Contractors as per AS 7
    02:16
  • Contract Accounting Case Study 1
    06:36
  • Contract Accounting Case Study 2
    02:13
  • Contract Accounting Case Study 3
    29:33
  • Quiz on AS 7 Construction Contracts
    10 questions

  • Revenue Recognition - Introduction
    05:26
  • Item excluded in Revenue Definition
    02:52
  • Timing of Revenue Recognition
    02:37
  • Conditions of Revenue Recognition
    03:35
  • Revenue Recognition when goods are sold subject to conditions
    04:27
  • Revenue from Rendering of service
    05:29
  • Special Treatment of Revenue Recognition
    02:59
  • When Revenue from sale of goods can berecognised?
    02:32
  • Treatment of interdepartmental Transfer
    03:21
  • Revenue Recognition Case Study 1
    02:44
  • Revenue Recognition Case Study 2
    02:43
  • Revenue Recognition Case Study 3
    03:07
  • Revenue Recognition Case Study 4
    03:08
  • Revenue Recognition Case Study 5
    02:08
  • Revenue Recognition Case Study 6
    01:42
  • Revenue Recognition Case Study 7
    02:52
  • Revenue Recognition Case Study 8
    04:42
  • Quiz on AS 9 Revenue Recognition
    3 questions

  • Preview03:29
  • Property, Plant & Equipment - Definition
    02:41
  • Biological Assets & Bearer Plant Defintion
    03:50
  • Agricultural Activity & Produce as per AS 10
    01:03
  • Recognition criterial for Property, Plant & Equipment as per AS 10
    02:56
  • Case Study on Capitalisation of Remodelling Expenses
    03:23
  • "Treatment of Spareparts, Standby Equipment & Servicing Equipment"
    01:47
  • Treatment of Cost of Day to Day Servicing
    00:31
  • Treatment of Replacement of Parts of PPE
    01:36
  • Measurement at Recognition of PPE
    01:17
  • Purchase Price
    00:51
  • Directly Attributable Cost as per AS 10
    04:32
  • Case Study 1 Directly Attributable Cost
    02:08
  • Case Study 2 Directly Attributable Cost
    02:41
  • Case Study 3 Directly Attributable Cost
    02:31
  • Decommissioning, Restoration and similar liabilities
    02:42
  • Cost of Self Constructed Asset
    01:41
  • Measurement of Cost
    02:59
  • Commercial Substance in Exchange Transaction
    03:01
  • Case Study 1 Measurement of Cost
    02:57
  • Case Study 2 Measurement of Cost
    01:49
  • Measurement of Cost Part 2
    01:32
  • Measurement after Recognition
    00:54
  • Cost Model as per AS 10
    00:37
  • Revaluation Model as per AS 10
    03:25
  • Frequency of Revaluation
    02:03
  • Determination of Fair Value
    00:57
  • Accounting treatment under Revaluation Model
    08:50
  • Treatment of Revaluation Increase or Decrease
    03:57
  • Case Study on Treatment of Revaluation Increase or Decrease
    03:48
  • Treatment of Revaluation Surplus
    01:20
  • Depreciation and related aspects under AS 10
    03:41
  • Case Study on Depreciation with ref. to AS 10
    02:01
  • Preview03:13
  • Commencement of Period for Depreciation
    01:34
  • Cessation of Depreciation with Case Study
    01:56
  • Cessation of Depreciation (Continuation)
    00:51
  • Depreciation for Land and Building
    01:35
  • Change in Method of Depreciation as per AS 10
    01:01
  • Methods of Depreciation as per AS 10
    00:53
  • Case Study Method of Depreciation as per AS 10
    01:20
  • Changes in Decommissioning, Restoration & Other Liabilities as per AS 10
    00:50
  • Changes in Liabilities (Asset recognized under Cost Model) as per AS 10
    01:10
  • Changes in Liabilities (Asset recognized under Revaluation Model) as per AS 10
    02:09
  • 4 Situations and its accounting as per AS 10
    00:51
  • Case Study Compensation from 3rd Party as per AS 10
    01:36
  • Retirement of PPE as per AS 10
    00:29
  • De-Recognition of PPE as per AS 10
    01:34
  • Disclosure requirement for PPE as per AS 10
    02:34

  • Introduction to AS 11 The Effects of Changes in Foreign Exchange Rates
    01:48
  • Areas not covered by AS 11
    03:23
  • Preview01:01
  • Monetary and Non Monetary Items
    00:58
  • Preview01:59
  • Forward Exchange Contract and Forward Rate
    01:52
  • Initial Recognition of Foreign Exchange Transactions
    01:32
  • Preview04:14
  • Recognition of Exchange Differences
    02:45
  • Treatment of Exchange Differences of Long Term Monetary Items
    01:46
  • Translation of Financial Statements of Foreign Operations
    02:42
  • Translation of Financial Statements of Integral Foreign Operations
    01:29
  • Translation of Financial Statements of Non Integral Foregin Operations
    02:52
  • How to decide Non Integral Foregin Operations?
    01:57
  • Preview03:34
  • Case Study 1 Forex Difference and Loan Accounting
    05:17
  • Case Study 2 Capitalization of Foreign Exchange Difference attributable to Depre
    04:58
  • Case Study 3 Preparation of Trial Balance of Foreign Operations in Rupees
    09:16
  • Case Study 4 Recognition of Forward Contract Loss / Gain
    02:28
  • Case Study 5 Accounting for Speculative loss / gain out of Forward Contract
    04:33
  • Disclosures required in Financial Statements
    01:16
  • Presentation of Foreign Currency Monetary Item Translation Difference Account
    00:55
  • Case Study 6 Accounting for Translation of Integral Foreign Operations
    04:53

Instructor

Raja Natarajan, B.Com., PGDBA, FCA
Chartered Accountant
Raja Natarajan, B.Com., PGDBA, FCA
  • 4.2 Instructor Rating
  • 9,227 Reviews
  • 181,217 Students
  • 110 Courses

               I am a Chartered Accountant with tonnes of passion for teaching. 

  I teach Financial Management & Strategic Financial Management for Chartered Accountancy, Cost and Management Accountancy and Company Secretary students in Ernakulam, India. I also hold Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune and Bachelors in Commerce, from Loyola College, Chennai. 

          I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice. During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in Financial Analysis, Risk Assessment, Viability Study, Evaluating business models, Project Finance, Working Capital Management, etc. 

      I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like Project Finance, Credit Risk Assessment, Entrepreneurship Development, Finance for Non Finance Executives, etc. 

I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.

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