APPLICABILITY OF THE ACCOUNTING STANDARDS TO VARIOUS ENTITIES

[CA GOPALJI AGRAWAL]

SL.	Name of the Standard	CORPORATE		NON CORPORATE
		smc	non smc	LEVEL III	LEVEL II	LEVEL I
AS1	Disclosure of Accounting Policies	YES	YES	YES	YES	YES
AS2	Valuation of Inventories	YES	YES	YES	YES	YES
AS3	Cash Flow Statement	NO	YES	NO	NO	YES
AS4	Contingencies and Events Occuring After the Balance Sheet Date	YES	YES	YES	YES	YES
AS5	Net Profit Or Loss for the Period, Prior Period Items and Changes in Accounting Policies	YES	YES	YES	YES	YES
AS6	Depreciation Accounting	YES	YES	YES	YES	YES
AS7	Construction Contracts	YES	YES	YES	YES	YES
AS9	Revenue Recognition	YES	YES	YES	YES	YES
AS10	Accounting for Fixed Assets	YES	YES	YES	YES	YES
AS11	The Effect of Changes in Foreign Exchange Rates	YES	YES	YES	YES	YES
AS12	Accounting for Government Grant	YES	YES	YES	YES	YES
AS13	Accounting for Investments	YES	YES	YES	YES	YES
AS14	Accounting for Amalgamation	YES	YES	YES	YES	YES
As15	Employee Benefits	PARTLY	YES	PARTLY	PARTLY	YES
AS16	Borrowing Costs	YES	YES	YES	YES	YES
AS17	Segment Reporting	NO	YES	NO	NO	YES
AS18	Related Party Disclosure	YES	YES	NO	YES	YES
AS19	Leases	PARTLY	YES	PARTLY	PARTLY	YES
AS20	Earning Per Share	PARTLY	YES	NO	NO	YES
AS21	Consolidated Financial Statements	NO	YES	NO	NO	NO
AS22	Aaccounting for taxes on Income	YES	YES	YES	YES	YES
AS23	Accounting for investment in Associates in Consolidated Financial Statements	NO	YES	NO	NO	NO
AS24	Discountinuing Operations	YES	YES	NO	YES	YES
AS25	Interim Financial Reporting	NO	YES	NO	NO	YES
AS26	Intengible Assets	YES	YES	YES	YES	YES
AS27	Financial Reporting of Interest in Joint Ventures	NO	YES	NO	NO	NO
AS28	Impairment of Assets	PARTLY	YES	PARTLY	PARTLY	YES
AS29	Provision,Contingent Liabilities and Contingent Assets	PARTLY	YES	PARTLY	PARTLY	YES