can anyone tell me that for what ASI stands for? As per RTP for may 2010, ASI 1 to 30 are applicable in accounts exam
6 Replies
(Guest)
ASI refers to Accounting Standards Interpretations.... These are also issued by ICAI in line with the Accounting Standards to which it relates. As of now , ICAI has issued 30 ASIs .
These interpretations clear certain terms used in Accounting Standards. for e.g term used like machinery spares in AS2 & AS10 is explained in ASI 2....
Shobha Maheshwari
(M.Com CA final Student & CS final Student)
(103 Points)
Replied 04 April 2010
'ASI' stands for Accounting Standards Interpretation. ASI 1 to ASI 30 is covered in Accounting standards in the books of D.S. Rawat & M.P. Vijay Kumar. You can also download it from icai website. The link is : https://www.icai.org/post.html?post_id=498&c_id=143
CA Ankur Dhamanaskar
(Student)
(295 Points)
Replied 05 April 2010
Agreed with both the post above.........!!!
CA Bijay Kr. Saha
(Asst.Mgr. Accts. & Fin)
(72 Points)
Replied 05 April 2010
ASI implies Accountng Standards of Interpretaion. ASI is published to give explanation to related Accounting Standard. ASI are helpful in understanding various terminologies mentioned in the AS. The reading of AS must done in conjuncrtion with the ASI.
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