Professional Accounting Standards Roadmap

Stage 1 — Foundation and presentation

Begin with AS 1, AS 5 and the financial-statement framework. Learn how policies, estimates, errors and materiality shape every later conclusion.

Stage 2 — Operating transactions and balances

Study AS 2, AS 7, AS 9, AS 10, AS 11, AS 13, AS 16 and AS 26. These standards affect inventory, contracts, revenue, assets, currency, investments, borrowing costs and development expenditure.

Stage 3 — Obligations and estimates

Move to AS 15, AS 19, AS 22, AS 28 and AS 29 for employee benefits, leases, deferred tax, impairment and provisions.

Stage 4 — Presentation and external reporting

Apply AS 3, AS 17, AS 18, AS 20, AS 24 and AS 25 to cash flows, segments, related parties, EPS, discontinuing operations and interim reports.

Stage 5 — Group and transaction accounting

Complete the roadmap with AS 12, AS 14, AS 21, AS 23 and AS 27, covering grants, amalgamations, subsidiaries, associates and joint ventures.