Steps of Simulation


Simulation is a quantitative procedure which describes a process by developing a model of that process and then conducting a series of organised trial and error experiments to predict the behaviour of the process over time.

Steps in the Simulation Process

  • Define the problem or system you intend to simulate.
  • Formulate the model you intend to use.
  • Test the model; compare its behaviour with the behaviour of the actual problem environment.
  • Identify and collect the data needed to test the model.
  • Run the simulation.
  • Analyse the results of the simulation and, if desired, change the solution you are evaluating.
  • Rerun the simulation to test the new solution.
  • Validate the simulation, that is, increase the chances that any inferences you draw about the real situation from running the simulation will be valid.

List of Accounting Standards

Accounting Standards
AS-01     Disclosure of Accounting Policies (Accounting Policy)
AS-02    Valuation of Inventories (Inventory)
AS-03    Cash Flow Statements (CFS)
AS-04    Contingencies and Events occurring after the balance sheet date (Events)
AS-05    Net profit or Loss for the Period, Prior-Period Items, & Changes in Accounting
Policies (PPI)

AS-06    Depreciation Accounting (Depreciation)
AS-07    Construction Contracts (Construction)
AS-08    Research & Development (Withdrawn)
AS-09    Revenue Recognition (Revenue)
AS-10    Accounting for Fixed Assets (Fixed Assets)
AS-11    The Effects of Changes in Foreign Exchange Rates (Forex)
AS-12    Accounting for Fixed Assets (Fixed Assets)
AS-13    Accounting for Investments (Investment)
AS-14    Accounting for Amalgamations (Amalgamation)
AS-15    Employees Benefits (Employee)
AS-16    Borrowing Costs (Loan)
AS-17    Segment Reporting (Segment)
AS-18    Related party Disclosures (Related party)
AS-19    Leases (Leases)
AS-20    Earnings per Share (EPS)
AS-21    Consolidated Financial Statements
AS-22    Taxes on Income (DTA)
AS-23    Accounting for Investments in Associations in Consolidated Financial Statement

AS-24    Discontinuing Operations (DCO)
AS-25    Interim Financial Reporting (IFR)
AS-26    Intangible Assets (Intangible)
AS-27    Financial Reporting of Interest of Joint Ventures (Joint Venture)
AS-28    Impairment of Assets (Impairment)
AS-29    Provisions, Contingent Liabilities and Contingent Assets (Contingency)
AS-30    Financial Instruments: Recognition and Measurements (FI:Recognition)
AS-31    Financial Instruments: presentation (FI:Presentation)
AS-32    Financial Instruments: Disclosures (FI:Disclosures)