This presentation summarizes key Indian accounting standards. It introduces accounting standards as guidelines for recording transactions and ensuring reliability of financial statements. The objectives of accounting standards are to standardize policies, add reliability, eliminate variations, and facilitate comparisons. Major standards covered include AS 6 on depreciation, AS 12 on government grants, AS 1 on disclosure of policies, AS 2 on inventory valuation, AS 13 on investments, AS 11 on foreign exchange rates, AS 19 on leases, AS 3 on cash flow statements, AS 10 on fixed assets, and AS 9 on revenue recognition. The presentation provides an overview of the purpose and requirements of these important accounting standards.