ACCOUNTING STANDARDS PROBLEM

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Simranjeet Singh

Proprietor at S Simranjeet & Associates

4396 Points Posted on 26 April 2010

Hello everyone can any one tell me that in company accounts,cost and mngment accting paper of CS executive group 1 in the company accounts part there is a need to prepare in detail about Accounting standards or not as when i take a look at scanner i came to know that the weightage of this chapter is not too much maximum 5-6 marks but the chapter is too vast.

so, is it's ok to prepare Accounting standards from solved scanner only (the Questions which appeared in the previous 10 attempts of this chapter) or not. if not, then can anyone tell me what is relevant in this chapter to be prepared in addition to scanner questions. ( important standards, direct questions etc.)

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CA SURENDRA KUMAR RAKHECHA

Practising CA at Surat

26263 Points Posted on 05 May 2010

Dear $iMr @ nJeet $iNgH,

Just refer one latest published company's balance sheet and see NOTES ON ACCOUNT PART very carefully. You would be able to know the practical applications of all the accounting standards.

If your refer 3-4 such balance sheets; you will have a reasonable knowledge about all the accounting standards.

This is one of the shortest route to have knowledge about AS. Don't leave it. Each and every chapter will add value in your "career" in the professional examinations.