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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 is international account standard board?
The International Accounting Standards Board is a new accounting standard. Its purpose is to become the global standard of accounting. It has not been fully adopted yet.
What is the difference between international accounting standard's and Indian accounting standard's?
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.
The structure of the international accounting standard board?
Structure diagram
What are the objectives of the International Accounting Standard Board?
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What does iasb mean?
IASB means International Accounting Standard Board.
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 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.
Who is responsible for formulating accounting standards?
International accounting standard board is responsible for standards more information athttp://www.iasb.org/Home.htm
Whether international harmonisation of accounting standards is a good idea?
AnswerHow do specific accounting theories helps us to understand issues relating to harmonization of accounting standard.
What is the function of International Accounting Standard Committee?
The International Accounting Standard Committee (IASC) oversees the functions of the International Accounting Standards Board in the development of accounting standards that can be adopted by businesses operating in different countries. The goal of this project is to make it easier to compare the financial statements of a business in Country A with those of a business in Country B, providing more useful information to investors who are deciding which companies to invest in.
Where can one find information about the International accounting standards board?
There are a few places where one can find out information about the International Accounting Standards Board. Such places include: The direct website, company accounts, and numerous accounting standard websites.
