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Accounting Standards

Accounting Standards

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Published by arpit vora

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Categories:Types, Research
Published by: arpit vora on May 16, 2010
Copyright:Attribution Non-commercial

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11/17/2010

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PRESENTED BY: EESHA AHUJA-3 DIPTI KADU-16 AMRUTA MULAY-30 VIBHA WANAGE- 59 AMRITHA SUVARNA-60 TANVI CHHEDA- 61 
 
Business communityacross the globe needscommon accountinglanguage.
Difficult to comparefinancial statements of various enterprises dueto different methods & principles.
To make these methods& principles uniform & comparable, standardsare evolved.
 
 
Written documents issued by the expert institutesor other regulatory bodies covering various aspectsof measurement, treatment, presentation anddisclosure of accounting transactions.
Contain detailed rules to be adopted for accountingtreatment of various items before presentation of financial statements.
Norms of accounting policies & practices
Furnish useful information to users of financialstatements such as shareholders, creditors,lenders, management, competitors, researchers,society at large
.

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