1. Ind AS 1 – Presentation of Financial Statements

• Purpose: Sets out the overall requirements for financial statement presentation, including guidance on structure and minimum requirements for content.
• Key Elements: Includes requirements for components of financial statements, such as balance sheet, income statement, and statement of cash flows.

2. Ind AS 2 – Inventories

• Purpose: Prescribes accounting treatment for inventories, including cost measurement, cost formulas, and inventory valuation.
• Key Elements: Addresses how inventories should be valued at the lower of cost or net realizable value.

3. Ind AS 7 – Statement of Cash Flows

• Purpose: Provides guidelines on preparing cash flow statements, classifying cash flows as operating, investing, or financing activities.
• Key Elements: Requires cash flows from operating activities to be reported using either the direct or indirect method.

4. Ind AS 8 – Accounting Policies, Changes in Accounting Estimates and Errors

• Purpose: Establishes criteria for selecting and changing accounting policies, handling accounting estimates, and correcting prior period errors.
• Key Elements: Encourages consistency and comparability by requiring disclosure of changes in policies and errors.

5. Ind AS 10 – Events after the Reporting Period

• Purpose: Deals with accounting for events that occur after the reporting period but before the financial statements are approved.
• Key Elements: Distinguishes between adjusting and non-adjusting events and prescribes their treatment.

6. Ind AS 12 – Income Taxes

• Purpose: Outlines accounting for current and deferred taxes, providing guidance on tax assets, tax liabilities, and temporary differences.
• Key Elements: Requires companies to recognize deferred tax assets and liabilities for future tax consequences.

7. Ind AS 16 – Property, Plant, and Equipment

• Purpose: Specifies accounting for tangible fixed assets, including initial recognition, depreciation, revaluation, and impairment.
• Key Elements: Defines methods for depreciating assets and guidelines for asset revaluation.

8. Ind AS 19 – Employee Benefits

• Purpose: Prescribes accounting for employee benefits, including short-term benefits, post-employment benefits, and termination benefits.
• Key Elements: Provides guidance on calculating defined benefit obligations and disclosing information on benefit plans.

9. Ind AS 20 – Accounting for Government Grants and Disclosure of Government Assistance

• Purpose: Sets out requirements for recognizing government grants and disclosing other forms of government assistance.
• Key Elements: Stipulates that grants should be recognized in profit or loss over the periods in which the related costs are incurred.

10. Ind AS 21 – The Effects of Changes in Foreign Exchange Rates

• Purpose: Deals with accounting for transactions and financial statements in foreign currencies.
• Key Elements: Requires the translation of foreign currency transactions and financial statements using prevailing exchange rates.

11. Ind AS 23 – Borrowing Costs

• Purpose: Prescribes accounting for borrowing costs, allowing capitalization of costs directly attributable to acquiring or constructing qualifying assets.
• Key Elements: Clarifies that other borrowing costs should be expensed.

12. Ind AS 24 – Related Party Disclosures

• Purpose: Mandates disclosure of relationships and transactions between related parties to highlight potential conflicts of interest.
• Key Elements: Includes requirements for disclosing key management compensation and transactions with affiliates.

13. Ind AS 27 – Separate Financial Statements

• Purpose: Provides requirements for preparing and presenting separate financial statements.
• Key Elements: Details accounting for subsidiaries, joint ventures, and associates in separate financial statements.

14. Ind AS 28 – Investments in Associates and Joint Ventures

• Purpose: Covers the accounting for investments in associates and joint ventures using the equity method.
• Key Elements: Requires the recognition of an investor’s share of an associate’s or joint venture’s profit or loss.

15. Ind AS 29 – Financial Reporting in Hyperinflationary Economies

• Purpose: Provides guidance for entities operating in hyperinflationary economies to ensure meaningful financial reporting.
• Key Elements: Requires adjustments to financial statements to reflect the effects of hyperinflation.

16. Ind AS 32 – Financial Instruments: Presentation

• Purpose: Sets requirements for classifying financial instruments as liabilities or equity.
• Key Elements: Provides guidelines for presentation of compound instruments like convertible debt.

17. Ind AS 33 – Earnings Per Share

• Purpose: Prescribes calculation and disclosure of earnings per share for entities with publicly traded shares.
• Key Elements: Defines methods for calculating basic and diluted EPS.

18. Ind AS 34 – Interim Financial Reporting

• Purpose: Provides guidance for preparing interim financial statements, usually quarterly or semi-annually.
• Key Elements: Stresses the importance of timely and concise interim reporting.

19. Ind AS 36 – Impairment of Assets

• Purpose: Addresses impairment testing, ensuring assets are not carried above their recoverable amounts.
• Key Elements: Requires disclosure of impairment losses and recoverable values.

20. Ind AS 37 – Provisions, Contingent Liabilities, and Contingent Assets

• Purpose: Specifies recognition and measurement criteria for provisions, contingent liabilities, and contingent assets.
• Key Elements: Requires provisions only when a present obligation exists, with reliable measurement.

21. Ind AS 38 – Intangible Assets

• Purpose: Covers the recognition, measurement, and amortization of intangible assets like goodwill and patents.
• Key Elements: Intangible assets should be recognized if future economic benefits are probable.

22. Ind AS 40 – Investment Property

• Purpose: Deals with recognition, measurement, and disclosure of property held to earn rental income or for capital appreciation.
• Key Elements: Requires investment property to be initially measured at cost and fair value disclosure.

23. Ind AS 41 – Agriculture

• Purpose: Provides guidance for accounting for biological assets and agricultural produce.
• Key Elements: Recognizes fair value changes in biological assets in the profit or loss statement.

24. Ind AS 101 – First-time Adoption of Ind AS

• Purpose: Outlines the process for entities transitioning to Ind AS from previous GAAP.
• Key Elements: Provides exemptions and adjustments for first-time adopters.

25. Ind AS 102 – Share-based Payment

• Purpose: Specifies accounting for transactions involving share-based payments to employees and others.
• Key Elements: Requires recognition of share-based compensation as an expense.

26. Ind AS 103 – Business Combinations

• Purpose: Prescribes accounting for acquisitions and mergers, requiring the purchase method.
• Key Elements: Requires recognition of goodwill or a gain from a bargain purchase.

27. Ind AS 104 – Insurance Contracts

• Purpose: Provides guidelines for recognizing and measuring insurance contracts.
• Key Elements: Focuses on disclosure and fair valuation of insurance contracts.

28. Ind AS 105 – Non-current Assets Held for Sale and Discontinued Operations

• Purpose: Covers the classification, measurement, and disposal of assets held for sale.
• Key Elements: Requires separate disclosure of discontinued operations.

29. Ind AS 106 – Exploration for and Evaluation of Mineral Resources

• Purpose: Deals with accounting for exploration and evaluation expenditures.
• Key Elements: Allows specific disclosures for entities engaged in resource extraction.

30. Ind AS 107 – Financial Instruments: Disclosures

• Purpose: Specifies required disclosures for financial instruments to highlight risk exposure.
• Key Elements: Requires details on credit, liquidity, and market risks.

31. Ind AS 109 – Financial Instruments

• Purpose: Provides requirements for classifying and measuring financial assets and liabilities.
• Key Elements: Introduces an impairment model based on expected credit loss.

32. Ind AS 110 – Consolidated Financial Statements

• Purpose: Establishes principles for preparing consolidated financial statements.
• Key Elements: Requires a parent entity to consolidate all subsidiaries.

33. Ind AS 111 – Joint Arrangements

• Purpose: Provides guidelines for accounting for joint ventures and joint operations.
• Key Elements: Specifies accounting methods based on joint arrangement types.

34. Ind AS 112 – Disclosure of Interests in Other Entities

• Purpose: Specifies disclosures related to interests in subsidiaries, joint ventures, and associates.
• Key Elements: Requires detailed disclosures on non-controlling interests and investment risks.

35. Ind AS 113 – Fair Value Measurement

• Purpose: Provides a framework for measuring fair value and requires specific disclosures.
• Key Elements: Defines fair value as the exit price for assets or liabilities.

36. Ind AS 114 – Regulatory Deferral Accounts

• Purpose: Provides guidance for entities subject to rate-regulation to recognize deferral account balances.
• Key Elements: Allows reporting of regulatory balances separately.

37. Ind AS 115 – Revenue from Contracts with Customers

• Purpose: Provides a comprehensive framework for revenue recognition from customer contracts.
• Key Elements: Introduces a five-step revenue recognition model.

38. Ind AS 116 – Leases

• Purpose: Provides requirements for the recognition and measurement of leases.
• Key Elements: Requires lessees to recognize leases on the balance sheet as assets and liabilities.