Answer / madhulika2011

Accounting is the production of financial records about an organization. Accountancy generally produces financial statements that show in money terms the economic resources under the control of management, selecting information that is relevant and representing it faithfully. The principles of accountancy are applied to accounting, bookkeeping, and auditing.

What are the major difference between US GAAP & Indian GAAP.? Where US GAAP is exactly & highly differenciated from Indian GAAP..? Your answer will be highly appreciated. Thanks in advance.

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what entry can be done for the payment to auditor?

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