what is accounting standard?
- 58 Answers
- 95103 Views
- ABC, Accounting, Banking, College School Exams Tests, Genpact, JK Associates, Livewire, TCS, Vijai Electricals, YCH, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / sonia
It is set of instruction that is given by the ICAI ,which
is to be followed by the all enterprises for proper and
correct working
| Is This Answer Correct ? | 21 Yes | 8 No |
Answer / anshu verma
Accounting standards is in the Accounting & Auditing and
Banking, Commerce & Finance subjects.
| Is This Answer Correct ? | 17 Yes | 7 No |
Answer / shirish
totally there are 29 accounting standards. accounting
standards are laid by the indian institute of chartered
accountants which should be followed strictly
| Is This Answer Correct ? | 109 Yes | 101 No |
Answer / mudassar
an accounting standard is a standard rule which was accepted
all the country's of the world like usa, uk etc.to do
business in effectively manner accounting standad plays very
imporant role.
| Is This Answer Correct ? | 14 Yes | 8 No |
Answer / shabbar luqmani
Accounting is the art of recording transactions in the best
manner possible, so as to enable the reader to arrive at
judgments/come to conclusions, and in this regard it is
utmost necessary that there are set guidelines. These
guidelines are generally called accounting policies. The
intricacies of accounting policies permitted Companies to
alter their accounting principles for their benefit. This
made it impossible to make comparisons. In order to avoid
the above and to have a harmonised accounting principle,
Standards needed to be set by recognised accounting bodies.
This paved the way for Accounting Standards to come into
existence.
Accounting Standards in India are issued By the Institute of
Chartered Accountanst of India (ICAI). At present there are
30 Accounting Standards issued by ICAI.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / boniface
accounting standards are the rules & regulations which are
declared by the indian institute of charted accountant for
treatment of accounting transaction held in every
organisation.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / rekha
IN RECORDING TRANSACTIONS AND PREPARING FINANCIAL
STATEMENTS, CERTAIN NORMS HAVE TO BE OBSERVED.SUCH NORMS ARE
DEVELOPED BY PROFESSIONAL ACCOUNTING BODIES AND ARE UPDATED
PERIODICALLY.THESE NORMS AND GUIDLINESS CONSTITUTE
ACCOUNTING STANDARD
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / vikas kukreja
accounting standards suggest rules and criteria of accounting measurement.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / ravendra garg
accounting standards are standard treatment of some account for purpose of making similar & comparable financial statement of different type of company
| Is This Answer Correct ? | 4 Yes | 3 No |
Explain the setup steps for Autoinvoice?
list out the accounting concepts and explain the accural concept
10 Answers Capital IQ, College School Exams Tests, SNE,
mutual funds invest in preference shares or not?
how a fund flow statement benefit the individual, corporate?
why are you selecting for the controlling area same company code?
What is MIS report and which accounting heads to be coverd for manufacturing & Trading company
what do u mean by preliminary expenditure? what r they? where it is comes?
If we spend a sum of Rs.10 Lacs towards Processing and Upfront fee for obtaining working capital term loan. can we treat this amount as a deferred revenue expenditure or not
Took goods from the shop for use at home? state whether the following transcation is business transcation or non business transaction? with reason?.
Expand GDI?
What is BMP in IMS?
garner 1903 on partnership ruling and type of ruling
Audit 
