What are the 32 accounting standards?

What are the 32 accounting standards?

STATUS OF ACCOUNTING STANDARDS ISSUED BY ICAI FOR NON-CORPORATES

Accounting Standard (AS)	Title of the AS
AS 29	Provisions, Contingent Liabilities and Contingent Assets
AS 30	Financial Instruments: Recognition and Measurement
AS 31	Financial Instruments: Presentation
AS 32	Financial Instruments: Disclosures

What is as6 in accounting?

DEPRECIATION  DEFINITION- measure of wearing out, consumption or other loss of value of a depreciable asset arising from use, effluxion of time or obsolescence through technology and market changes. …

What are wasting assets?

A wasting asset is an item that has a limited life span and irreversibly declines in value over time. Such fixed assets could be vehicles and machinery. However, in the financial markets, the term refers to options since the contract will continually lose time value after purchase.

What is accounting 9?

Accounting standard 9 is concerned with the recognition of revenue arising in the course of the. ordinary activities of the enterprise from: · From sale of goods, · From rendering of services, and. · From the use by others of enterprise resources yielding interest, royalties and dividends.

Is salary an operating expense?

Are Wages Operating Expenses? Administrative expenses such as full time staff salaries or hourly wages are considered operating expenses for a business. The specific costs for hiring labor to produce a product is calculated separately, under cost of goods sold, and are not operating expenses.

Is rent an operating expense?

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX, operating expenses include rent, equipment, inventory costs, marketing, payroll, insurance, step costs, and funds allocated for research and development.

What is rent expenses in accounting?

Rent expense is an account that lists the cost of occupying rental property during a reporting period. Under the cash basis of accounting, the amount of rent expense reported in a period is the amount of cash paid during that period.

Is office rent a fixed cost?

Office rent, insurance, office furniture, company cars, professional memberships and other expenses that do not change from year to year are called fixed overhead. The mortgage payment or rent of the factory building is a fixed overhead expense.

What are examples of operating expenses?

The following are common examples of operating expenses:

• Rent and utilities.
• Wages and salaries.
• Accounting and legal fees.
• Overhead costs such as selling, general, and administrative expenses (SG&A)
• Property taxes.
• Business travel.
• Interest paid on debt.

What are examples of administrative expenses?

Typical items listed as general and administrative expenses include:

• Rent.
• Utilities.
• Insurance.
• Executives wages and benefits.
• The depreciation on office fixtures and equipment.
• Legal counsel and accounting staff salaries.
• Office supplies.

What are cash operating expenses?

Cash Operating Expenses means the sum of Regional Expenses and Corporate Expenses, as each such item is shown on the financial statements of the Borrower. Cash Operating Expenses shall in no event include Gross Overhead.

What are non cash expenses?

A non-cash charge is a write-down or accounting expense that does not involve a cash payment. Depreciation, amortization, depletion, stock-based compensation, and asset impairments are common non-cash charges that reduce earnings but not cash flows.

What is a selling expense?

Selling expenses are the costs associated with distributing, marketing and selling a product or service. Selling expenses can include: Distribution costs such as logistics, shipping and insurance costs. Marketing costs such as advertising, website maintenance and spending on social media.

How do you calculate cash flow?

Cash flow formula:

1. Free Cash Flow = Net income + Depreciation/Amortization – Change in Working Capital – Capital Expenditure.
2. Operating Cash Flow = Operating Income + Depreciation – Taxes + Change in Working Capital.
3. Cash Flow Forecast = Beginning Cash + Projected Inflows – Projected Outflows = Ending Cash.

What is the format of cash flow statement?

The cash flow statement follows an activity format and is divided into three sections: operating, investing and financing activities. Generally, the operating activities are reported first, followed by the investing and finally, the financing activities.

How do you build cash flow?

10 Ways to Improve Cash Flow

1. Lease, Don’t Buy.
2. Offer Discounts for Early Payment.
3. Conduct Customer Credit Checks.
4. Form a Buying Cooperative.
5. Improve Your Inventory.
6. Send Invoices Out Immediately.
7. Use Electronic Payments.
8. Pay Suppliers Less.

What produces cash flow?

In accounting, cash flow is the relationship between money coming into your business and money going out of it. To generate a cash flow, you have to drive revenue and moderate expenses. The expression “generate cash flow” often is used specifically to refer to company efforts to bring money in the door, even at a loss.