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Typically, every country can have their own set of accounting standards used for private enterprises. However, the three major accounting standards recognized globally are US GAAP, Canadian GAAP (although Canada is switching to IFRS effective January 1st, 2011), and IFRS (which is used by most countries in the world now, excluding USA, which uses US GAAP).
*GAAP = Generally Accepted Accounting Principles
**IFRS = International Financial Reporting Standards
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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 advantages and disadvantage of harmonisation of international accounting standards?
what are advantages and disadvantages of harmonisation of accounting standards
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.
Why using Accounting Standards?
Accounting standards help to standarise the financial reporting of companies in all areas to make it easier to make comparisons. With the international accounting standards it allowes this to become international, once exchange rated have been applied.
How is International Accounting Standards Board made up?
no
How many international accounting standards are there in fiji?
37
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 is the acronym for an organization that promotes the international harmonization of accounting standards?
International Accounting Standards Committee (IASC) by umair sajedin
What are advantages and disadvantage of harmonisation of international accounting standards?
what are advantages and disadvantages of harmonisation of accounting standards
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.
What are the different bodies that are responsible for developing and enforcing accounting standards in Australia?
Start with the International Accounting Standards Board.
Why using Accounting Standards?
Accounting standards help to standarise the financial reporting of companies in all areas to make it easier to make comparisons. With the international accounting standards it allowes this to become international, once exchange rated have been applied.
How is International Accounting Standards Board made up?
no
Which organization is primarily responsible for developing a single set of worldwide accounting standards?
International Accounting Standards Board (IASB)
Who is responsible for formulating accounting standards?
International accounting standard board is responsible for standards more information athttp://www.iasb.org/Home.htm
What is the function of International Accounting Standards Board?
The function of the International Accounting Standards Board is to oversee the doings of Accountants and businesses worldwide. The Board handles the functions of in house police over companies and individuals that come under their purview.
What is the international public sector accounting standards board IPSASB?
no
