<?xml version="1.0" encoding="us-ascii"?><InstanceReport xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"><Version>2.4.0.8</Version><ReportLongName>0011 - Disclosure - Recent Accounting Standards</ReportLongName><DisplayLabelColumn>true</DisplayLabelColumn><ShowElementNames>false</ShowElementNames><RoundingOption /><HasEmbeddedReports>false</HasEmbeddedReports><Columns><Column FlagID="0"><Id>1</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

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</LabelSeparator><Level>1</Level><ElementName>us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Organization, Consolidation and Presentation of Financial Statements [Abstract]</Label></Row><Row FlagID="0"><Id>2</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

</LabelSeparator><Level>2</Level><ElementName>us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="From2012-10-01to2013-06-30" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&lt;i&gt;Recent Accounting
Pronouncements. &lt;/i&gt;&amp;#160;&amp;#160;In July 2013, the FASB issued ASU No 2013-11, &lt;i&gt;Income Taxes. &lt;/i&gt;This amendment clarifies ASC
Topic 740 &lt;i&gt;Income Taxes&lt;/i&gt; by explicitly providing guidance on the financial statement presentation of an unrecognized tax benefit
(&amp;#147;&lt;i&gt;UTB&lt;/i&gt;&amp;#148;) when a net operating loss carry forward, a similar tax loss, or a tax credit carry forward exists. Prior
to ASU No 2013-11, there was diversity in the presentation of the UTB. ASU No 2013-11 requires the Company to present a UTB, or
a portion of a UTB, in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a
similar tax loss, or a tax credit carryforward, except when a net operating loss carryforward, a similar tax loss, or a tax credit
carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income
taxes that would result from the disallowance of a tax position, or if the tax law of the applicable jurisdiction does not require
the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the UTB should be presented
in the financial statements as a liability and should not be combined with deferred tax assets. The assessment of whether a deferred
tax asset is available is based on the UTB and deferred tax asset that exist at the reporting date and should be made presuming
disallowance of the tax position at the reporting date.&amp;#160;&amp;#160;The amendments in this update do not require new recurring disclosures.
ASU No 2013-11 is effective for fiscal year and interim periods within those years beginning after December 15, 2013 and early
adoption is permitted.&amp;#160;&amp;#160;ASU No 2013-11 is applied prospectively to all UTBs that exist at the effective date. The adoption
of the accounting principles of this update is not anticipated to have a material impact on the Company&amp;#146;s consolidated financial
position or results of operations.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;In February 2013,
the FASB issued Accounting Standards Update (&amp;#147;&lt;i&gt;ASU&lt;/i&gt;&amp;#148;) No. 2013-02, &lt;i&gt;Reporting of Amounts Reclassified Out of
Accumulated Other Comprehensive Income. &lt;/i&gt;The amendments in this update require an entity to disclose significant amounts reclassified
out of accumulated other comprehensive income into net income by the respective line items of net income in its entirety in the
same reporting period. These amendments are effective for the Company prospectively for reporting periods beginning after December
15, 2012. The adoption of this accounting update did not have a material impact on the Company's consolidated financial position
or results of operations.&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of the adoption of new accounting pronouncements that may impact the entity's financial reporting.</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Recent Accounting Standards</Label></Row></Rows><Footnotes /><IsEquityReport>false</IsEquityReport><ReportName>Recent Accounting Standards</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>true</HasCustomUnits><IsEmbedReport>false</IsEmbedReport><IsMultiCurrency>false</IsMultiCurrency><ReportType>Sheet</ReportType><RoleURI>http://irvine-sensors.com/role/RecentAccountingStandards</RoleURI><NumberOfCols>1</NumberOfCols><NumberOfRows>2</NumberOfRows></InstanceReport>
