|
Reconciliation of US GAAP with Indian and International Accounting Standard US GAAP |
|
Sl |
AS |
AS
Title |
IAS
no |
US
GAAP |
|
1. |
AS
1 |
Disclosure
of Accounting Policies |
IAS 1 |
APB 22 |
|
2. |
AS
2 |
Valuation
of Inventories |
IAS 2 |
ARB 43(4),
FAS 151 |
|
3. |
AS
3 |
Cash
Flow Statements |
IAS 7 |
FAS 95 |
|
4. |
AS
4 |
Contingencies
and Events Occurring After the Balance Sheet Date |
IAS 10 |
FAS 5 |
|
5. |
AS
5 |
Net
Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies |
IAS 8 |
FAS 16 |
|
6. |
AS
6 |
Depreciation
Accounting |
|
|
|
7. |
AS
7 |
Accounting
for Construction Contracts |
IAS 11 |
ARB 45 |
|
8. |
AS
8 |
Accounting
for Research and Development |
|
FAS 2 |
|
9. |
AS
9 |
Revenue
Recognition |
IAS 18 |
SFAC (1,2,5,6) FAS 48, ARB 43(1A) |
|
10. |
AS
10 |
Accounting
for Fixed Assets |
IAS 16 |
FAS 143,116,34 |
|
11. |
AS
11 |
Accounting
for the Effects of Changes in Foreign Exchange Rates |
IAS 21 |
FAS 52 |
|
12. |
AS
12 |
Accounting
for Government Grants |
IAS 20 |
|
|
13. |
AS
13 |
Accounting
for Investments |
IAS 28 |
FAS 115 |
|
14. |
AS
14 |
Accounting
for Amalgamations |
IAS 22 |
FAS 141 |
|
15. |
AS
15 |
Accounting
for Retirement Benefits in the Financial Statements of Employers |
IAS 26 |
FAS 106 |
|
16. |
AS
16 |
Borrowing
Costs |
IAS 23 |
FAS 34 |
|
17. |
AS
17 |
Segment
Reporting |
IAS 14 |
FAS 131 |
|
18. |
AS
18 |
Related
Party Disclosures |
IAS 24 |
FAS 57 |
|
19. |
AS
19 |
Leases |
IAS 17 |
FAS 13 |
|
20. |
AS
20 |
Earnings
Per Share |
IAS 33 |
FAS 128 |
|
21. |
AS
21 |
Consolidated
Financial Statements |
IAS 27 |
FAS 94 |
|
22. |
AS
22 |
Accounting
for Taxes on Income |
IAS 12 |
FAS 96 |
|
23. |
AS
23 |
Accounting
for Investments in Associates in Consolidated Financial Statements |
|
|
|
24. |
AS
24 |
Discontinuing
Operations |
IAS 35 |
|
|
25. |
AS
25 |
Interim
Financial Reporting |
IAS 34 |
FAS 3 |
|
26. |
AS
26 |
Intangible
Assets, Goodwill |
IAS 38 |
FAS 142 |
|
27. |
AS
27 |
Financial
Reporting of Interests in Joint Ventures |
IAS 31 |
|
|
28. |
AS
28 |
Impairment
of Assets |
IAS 36 |
FAS 121,144 |
|
29 |
AS
29 |
Contingent
Liability |
IAS 37 |
FAS
5 |
|
30 |
Pending
|
Effects
of changing Prices |
IAS
15 |
FAS
89 |
|
31 |
Pending |
Employee
Benefits |
IAS
19 |
FAS
87 |
|
31 |
Pending |
Financial
Reporting in Hyperinflationary economy |
IAS
29 |
|
|
33 |
N.A. |
Disclosure
in Financial statement of banks and similar Financial institutions |
IAS
30 |
|
|
34 |
Pending |
Financial
Instruments- disclosure and presentation |
IAS
32 |
FAS
105 |
|
35 |
Pending |
Financial
Instruments: Recognition and measurement |
IAS
39 |
|
|
36 |
Pending |
Investment
property |
IAS
40 |
|
|
37 |
Pending |
Agriculture |
IAS
41 |
|
