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What is the difference between international accounting standard's and Indian accounting standard's?
Wiki User
∙ 9y ago
GAAP Stands for Generally Accepted Accounting Principles. Accounting Standardards are issued by the Institute of Chartered Accountants of India (ICAI). This is the largest accounting body in the country. Now the Accounting Standards are 29.Accounting Standards are prepared by expert persons.Generally Accepted Accounting Principles means just like Accounting Concept which means every person can accept this principles.
Wiki User
∙ 11y ago
Wiki User
∙ 10y agoYou don't see much of this monkey business with standard accounting: http://www.monitor.net/monitor/free/biatrustfund.html Billions Missing From U.S. Indian Trust Fund
Wiki User
∙ 9y agoThere is Scope difference between both of them. International accounting standards are for whole world and applicable to all countries in world while Indian accounting standards are only applicable in india.
Wiki User
∙ 13y agoI know that in international accounting LIFO and eaxtrordinary items are prohibited
Wiki User
∙ 13y agoIndians don't have accounting standards...America dominated them.
Wiki User
∙ 11y agoIndian accounting in cash flow statement no classification of interest and dividend paid but in international accounting these are classified as financing cash flows
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What are the differences between Indian Accounting Standards and International Accounting Standards?
Indian accounting standards are developed by Indian board and only applicable in India while international accounting standards are developed by International Accounting standard board and applicable to all countries.
What are the differences between Indian accounting standards and U.S. accounting standards?
Here is a link to a great paper by from the SEC , outlining the major differences in International Accounting Standards.
Different between international accounting and domestic accounting?
The difference between international accounting and domestic accounting is that whereas one is international the other is local. The international accountants must be certified by the international bodies while the local accounts must be certified by the local bodies.
Difference between international accounting standard and accounting theory?
IFRSs refers to the new numbered series of pronouncements that the IASB is issuing, as distinct from the International Accounting Standards (IASs) series issued by its predecessor. More broadly, IFRSs refers to the entire body of IASB pronouncements, including standards and interpretations approved by the IASB and IASs and SIC interpretations approved by the predecessor International Accounting Standards Committee On the other hand by simple Accounting Standard we mean " Accounting Standard issued by the Institute of Chartered Accountants of India(ICAI)".
What are the deferences between accounting theory and IAS?
Accounting theory is a framework for understanding accounting principles and concepts, while IAS (International Accounting Standards) are specific guidelines and rules set by the International Accounting Standards Board for how financial statements should be prepared and presented. Accounting theory provides the foundation for accounting standards, including IAS, by guiding the development of principles and concepts used in accounting practice.
What is the difference between national and international standards in the hospitality industry?
nope
What is the difference between international financial report as opposed to the public sector accounting?
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The difference between accounting nations and accounting commerce?
the difference between accounting nations and accounting commerce
What is the difference between manual accounting and tally accounting?
what is the difference between manual accounting and tally accounting?
The difference between accounting policies and accounting bases?
The difference between accounting and auditing?"
What is difference between accounting concept and accounting principles and convention?
Accounting concepts are essentially theories. Accounting principles are measures and processes that have proven to be successful when used. Conventions are beliefs within the discipline that help make things efficient.
What is different between auditing and international accounting standard?
The international accounting standards are standards to which the accounting procedures for organisations must comply with. It specifically relates to the preparation of reporting, such as the preparation of the financial statement, cash flow statement and the balance sheet. Auditors are professionals who analyse whether the organisation has prepared all the statements in accordance with the accounting standards, and any errors are reported to the related governing body, which in Australia is ASIC. For more details, please look up the Corporations Act which has a large section related to financial statements and auditors.
