Nepal Accounting Standards

As per the decision of the Council, the following Nepal Accounting Standards have been made Mandatory for Compliances.

S.No. NASs IASs Name Effective Date
(Original)
Revised Date
      Framework for the Preparation and Presentation of Financial Statements    
1 1 1 Presentation of Financial Statements 1 Shrawan 2061
(16 July 2004)
1 Shrawan 2065
(16 July 2008)
2 2 8 Accounting Policies, Changes Accounting Estimates & Errors 1 Shrawan 2061
(16 July 2004)
1 Shrawan 2065
(16 July 2008)
3 3 7 Cash Flow Statements 1 Shrawan 2061
(16 July 2004)
1 Shrawan 2065
(16 July 2008)
4 4 2 Inventories 1 Shrawan 2061
(16 July 2004)
1 Shrawan 2065
(16 July 2008)
5 5 10 Events After the Balance Sheet Date 1 Shrawan 2061
(16 July 2004)
1 Shrawan 2065
(16 July 2008)
6 6 16 Property, Plant and Equipment 1 Shrawan 2061
(16 July 2004)
1 Shrawan 2065
(16 July 2008)
7 7 18 Revenue 1 Shrawan 2062
(16 July 2005)
1 Shrawan 2065
(16 July 2008)
8 8 23 Borrowing Costs 1 Shrawan 2062
(16 July 2005)
1 Shrawan 2065
(16 July 2008)
9 9 12 Income Taxes 1 Shrawan 2064
(16 July 2007)
 
 
10 10 20 Accounting for Government Grants and Disclosure of Government Assistance 1 Shrawan 2063
(16 July 2006)
1 Shrawan 2065
(16 July 2008)
11 11 21 The Effects of Changes in Foreign Exchange Rates 1 Shrawan 2063
(16 July 2006)
1 Shrawan 2065
(16 July 2008)
12 12 37 Provisions, Contingent Liabilities and Contingent Assets 1 Shrawan 2063
(16 July 2006)
1 Shrawan 2065
(16 July 2008)
13 13 11 Construction Contract 1 Shrawan 2063
(16 July 2006)
1 Shrawan 2065
(16 July 2008)
14 15 17 Leases 1 Shrawan 2064
(17 July 2007)
1 Shrawan 2065
(16 July 2008)
15 16 24 Related Party Disclosures 1 Shrawan 2064
(17 July 2007)
1 Shrawan 2065
(16 July 2008)
16 17 34 Interim Financial Reporting 1 Shrawan 2064
(17 July 2007)
1 Shrawan 2065
(16 July 2008)
17 18 36 Impairment of Assets 1 Shrawan 2064
(17 July 2007)
6 Shrawan 2064
(22 July 2007)
18 19 40 Investment Property 1 Shrawan 2064
(17 July 2007)
6 Shrawan 2064
(22 July 2007)
19 20 IFRS 5 Non-current Assets Held for Sale and Discontinued Operations 1 Shrawan 2064
(17 July 2007)
6 Shrawan 2064
(22 July 2007)

The following Nepal Accounting Standards are for voluntary compliances:

S.No. NASs IASs Name Effective Date
(Original)
Effective Date
1 14 19 Employee Benefits 1 Shrawan 2064
(17 July 2007)
6 Shrawan 2064
(22 July 2007)
2 21 IFRS 3 Business Combinations 1 Shrawan 2064
(17 July 2007)
6 Shrawan 2064
(22 July 2007)
3 23 14 Segment Reporting 1 Shrawan 2064
(17 July 2007)
6 Shrawan 2064
(22 July 2007)
4 24 26 Accounting and Reporting by Retirement Benefit Plans 24 Magh, 2064
(7February 2008)
24 Magh, 2064
(7February 2008)
5 25 28 Investment in Associates 1 Shrawan 2064
(17 July 2007)
6 Shrawan 2064
(22 July 2007)
6 26 33 Earning per Share 1 Shrawan 2064
(17 July 2007)
6 Shrawan 2064
(22 July 2007)
7 27 38 Intangible Assets 1 Shrawan 2064
(17 July 2007)
6 Shrawan 2064
(22 July 2007)
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