Accounting for inventory
Guiding Framework:
| Standard | Accounting Standard number | Bare Accounting Standard | Date of Applicability for Indian Companies |
| Accounting Standard | AS 2 | For the text click here | |
| IndAS | Ind AS 2 | For the text click here | |
| IFRS | IAS 2 | For the text click here | |
Relevant Accounting Standard Interpretations:
| Accounting Standard Interpretation number | Description | Bare Accounting Standard Interpretation | Date of Applicability for Indian Companies |
| ASI 2 | Accounting for Machinery Spares | For the text click here | |
| IFRIC 20 | Stripping Costs in the Production Phase of a Surface Mine | For the text click here | IFRIC is applicable since 01st January 2013.Earlier application is permitted. |
Relevant Guidance Note issued by ICAI:
Guidance Note On Accounting Treatment For Excise Duty
