IPCC GROUP 1 AS NOTES
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AS-1 Disclosure of Accounting Policies
AS-2 Valuation of Inventories
AS-7 Construction Contracts ( how to remember name :-we give weekly(7 days) wages for labour of construction activity)
We take you further by giving tips to prepare your accounting standards
TIPS FOR PREPARATION of ACCOUNTING STANDARDS:-
We have observed that IPCC students do not prepare the AS , which are very much compulsorily asked in Accounts as well as in Audit paper covering around about 25 – 30 marks. AS are very easy to read and revise so
Please do not leave them . Also do not give time to AS from your scheduled time . Read AS in your idle time For eg:- when you think “after an hour I have to go to meet my friend or go somewhere else or take my lunch / dinner or go to
bed ”. In such case you generally do not start your study for that short span of time because you feel
“ YAAR HALF AN HOUR MAIN KUCH NAHI HOGA PRACTICALS OR THEORY KARKAR ”.
In that idle time , you should REVISE AS . By doing so , you will save YOUR PRECIOUST by not allotting any time to AS from your scheduled time and still be able to prepare for it .
I hope this will help you a lot ..
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