Meaning and Objectives of International Accounting Standards | List of IAS

          Today in this article we will be discuss about the International Accounting Standards, Objectives and also the list of International Accounting Standards.

International Accounting Standards (IAS)

          International Accounting Standards are the accounting standards issued by the International Accounting Standards Board. International Accounting Standard Committee (IASC) was formed in the year 1973. Later IASC was replaced by International accounting Standards Board in the year 2001. International Accounting Standards Board is accounting standard setup body of International Financial Reporting Standards Foundation in the year 2001. The main objective of the International Accounting Standards is to make it easier to compare the businesses around the world, increase the transparency, trust in financial trust and improve globe trade and investment, accountability and efficiency in the global financial markets. International Accounting Standards helps to reduce the difference in recording of transactions in accounting and financial statements presentations. International Standards helps globally operating (MNCs) companies significantly reduce the cost of reporting and regulatory costs.

Objectives of International Accounting Standards

          The main objectives of International Accounting Standards are,

§  To prepare and publish accounting standards that can be worldwide accepted by everyone can be practiced by all.

§  To help to improve and harmonize the accounting standards and procedures related to representation of financial statements.

List of International Accounting Standards

Sl. No	Standards	About	Issued	Edits
1.	International Accounting Standard 1	Presentation of Financial Statements	2007
2.	International Accounting Standard 2	Valuation and Presentation of Inventories	2005
3.	International Accounting Standard 3	Consolidation of Financial Statements and Equity Method of Accounting	1976	(Superseded in 1989 by IAS 27 & IAS 28)
4.	International Accounting Standard 4	Depreciation Accounting		(Withdrawn in 1999)
5.	International Accounting Standard 5	Information to be disclosed in Financial Statements	1976	(Superseded by IAS 1 effective from July 1,1998)
6.	International Accounting Standard 6	Accounting Response to Changing Prices		(Superseded by IAS 15 but withdrawn in 2003)
7.	International Accounting Standard 7	Statement of Cash Flow	1992
8.	International Accounting Standard 8	Accounting Policies – Accounting Estimations & Errors	2003
9.	International Accounting Standard 9	Accounting for Research and Development Activities		(Superseded by IAS 38 effective from 1 July 1999)
10.	International Accounting Standard 10	Post Reporting Period Events	2003
11	International Accounting Standard 11	Construction Contracts	1993	(Will be Superseded by IFRS 15 as on January 1, 2017)
12.	International Accounting Standard 12	Income Taxes	1996
13.	International Accounting Standard 13	Representations of Current Assets and Current Liabilities		(Superseded by IAS 1 from July 1, 1998)
14.	International Accounting Standard 14	Segment Reporting	1997	(Superseded by IFRS 8 from January 1, 2009)
15.	International Accounting Standard 15	Information with respect to changing in price	2003	(Withdrawn in December 2003)
16.	International Accounting Standard 16	Property, Plant and Equipment	2003
17.	International Accounting Standard 17	Leasing	1998
18.	International Accounting Standard 18	Revenue	1993	(Will be Superseded by IFRS 15 from January 1, 2017)
19.	International Accounting Standard 19	Employee Benefits	1998	(Superseded by IAS 19 (2011) from January 1, 2013)
20.	International Accounting Standard 19	Employee Benefits	2011
21.	International Accounting Standard 20	Accounting for Government Grants & Disclosure of Government Assistance	1983
22.	International Accounting Standard 21	Effects in Foreign Exchange Rates	2003
23.	International Accounting Standard 22	Business Combination	1998	( Superseded by IFRS 3 from March 31, 2004)
24.	International Accounting Standard 23	Borrowing Cost	2007
25.	International Accounting Standard 24	Party Disclosures	2009	(Superseded by IAS 39 & IAS 40 from 2001)
26.	International Accounting Standard 25	Accounting for Investments
27.	International Accounting Standard 26	Accounting and Reporting by Retirement Benefits Plans	1987
28.	International Accounting Standard 27	Separate Financial Statements	2011
29.	International Accounting Standard 27	Consolidated & Separate Financial Statements	2003	(Superseded by IFRS 10, IFRS 12 & IAS 27(2011) from January 2013)
30.	International Accounting Standard 28	Investments in Associations and Joint Ventures	2011
31.	International Accounting Standard 28	Investment In Associates	2003	(Superseded by IAS 28 (2011) & IFRS 12 from January 1, 2013)
32	International Accounting Standard 29	Financial Reporting in Hyperinflationary Economies	1989
33.	International Accounting Standard 30	Disclosure of Financial Statements of Banks & Financial Institutions	1990	(Superseded by IFRS 7  from January 1, 2007)
34.	International Accounting Standard 31	Interests  in Joint Ventures	2003	(Superseded by IFRS 11 & IFRS 12 from January 1, 2013)
35.	International Accounting Standard 32	Presentation of Financial Instruments	2003
36.	International Accounting Standard 33	Earnings Per Share	2003
37.	International Accounting Standard 34	Interim Financial Reporting	1998
38.	International Accounting Standard 35	Discontinuing Operations	1998	(Superseded by IFRS 5 from January 1, 2005)
39.	International Accounting Standard 36	Impairment of Assets	2004
40.	International Accounting Standard 37	Provisions, Contingent Liabilities and Contingent Assets	1998
41.	International Accounting Standard 38	Intangible Assets	2004
42.	International Accounting Standard 39 (Superseded by IFRS 9 where IFRS 9 is applied)	Recognition & Measurement of Financial Instruments	2003
43.	International Accounting Standard 40	Investment Property	2003
44.	International Accounting Standard 41	Agriculture	2001