Course Contents:
1. Basic Introduction
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Meaning of Nepal Accounting Standard [NAS]
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Transition from NAS to NFRS
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Meaning of IFRS & GAAP
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Concepts of VAT/TDS & Income Tax
2. First time implementation of NFRS
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NFRS 1 – First time adoption of Nepal
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Objective
3. Understanding NFRS/ NAS & its impact on Financial Statement
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NFRS 15: Revenue from contracts with customers
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NAS 2: Inventories
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NAS 23: Borrowing Costs
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NAS 16: Property, plant and equipment
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NAS 19: Employee Benefits
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NAS 20: Accounting for govt. grants & disclosure of govt. assistance
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NAS 21: The effect of change in Foreign exchange rates
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NAS 12: Income taxes
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NAS 36: Impairment of assets
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NAS 37: Provisions, Contingent Liabilities & Contingent Assets
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NAS 38: Intangible Assets
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NFRS 16: Leases
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NAS 41: Agriculture
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NAS 10: Events after the reporting period
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NAS 8: Accounting Policies, changes in accounting estimates & errors
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NAS 7: Statement of Cashflow
4. Financial statement, Significant accounting policies & Notes to Account as per NFRS
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NAS 1: Presentation of Financial Statements
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Significant accounting policies
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Notes to account including different disclosure as per various NAS/ NFRS.