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What is ISO stand for?
Capitalised, as an abbreviation, it most often stands for International Organization for Standardization. It is a non-government organization that sets worldwide proprietary in industrial and commercial standards for each respective industry and country. Their standards or set requirements eventually becomes law to a respective industry.
What does the acronym iso stand for?
It stands for International Organization for Standardization which is responsible for releasing or publishing ISO standards for every specific industry that the organization covers.
What does AS9100 stand for?
Current revision of Aerospace Standards in relation to Quality Management Systems such as ISO (International Standards)
What is the full form of IFRS?
International Financial Reporting Standards
What are official language of the world Is there any organization that regconize English as a global language?
Since no organization can claim to represent the whole world, there is no "official" language for the world. The closest such organization would be the United Nations, which uses six official languages: English, Spanish, Chinese, Arabic, French, and Russian. The use of languages by international organizations is usually related to the number of speakers rather than any "official" status. This is why, for example, English and Spanish have become defacto global standards. English is clearly a global language, but this is merely a measure of its widespread use, not of any official recognition.
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 international harmonization in context of IASB?
International harmonization, in the context of the International Accounting Standards Board (IASB), refers to the process of aligning accounting standards globally to enhance comparability and consistency in financial reporting. The IASB develops and promotes International Financial Reporting Standards (IFRS), which are designed to be used across different countries, facilitating better understanding and transparency for investors and stakeholders. This harmonization aims to reduce discrepancies in accounting practices, thereby improving the quality of financial information and promoting cross-border investment. Ultimately, it fosters a more integrated global economy.
Which organization is primarily responsible for developing a single set of worldwide accounting standards?
International Accounting Standards Board (IASB)
What is the purpose of the IASB?
The International Accounting Standards Board (IASB) was founded in 2001. The purpose of this 15 member organization is to set United States accounting standards.
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.
Which Canadian organization is responsible for setting generally accepted accounting principles?
The Canadian Accounting Standards Board (AcSB) is the organization responsible for setting generally accepted accounting principles (GAAP) in Canada. It establishes accounting standards for both private and public enterprises, ensuring they align with international standards where applicable. The AcSB aims to enhance the relevance, reliability, and comparability of financial reporting in the country.
What are advantages and disadvantage of harmonisation of international accounting standards?
what are advantages and disadvantages of harmonisation of accounting standards
Is the financial accounting standards advisory board the same as the federal accounting standards board?
The Financial Accounting Standards Board (FASB) is a private organization (within the Financial Accounting Foundation) that issues financial accounting and reporting standards for nongovernmental entities.
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.
The Governmental Accounting Standards Board was created under the auspices of what organization?
The Governmental Accounting Standards Board was created under the auspices of the Financial Accounting Foundation.
