Question

accounting standard is​

Answer 1

Explanation:

An accounting standard is a common set of principles, standards and procedures that define the basis of financial accounting policies and practices. ... In the United States, the Generally Accepted Accounting Principles form the set of accounting standards widely accepted for preparing financial statements.

Answer 2

Explanation:

An accounting standard is a standardized guiding principle that determines the policies and practices of financial accounting. Accounting standards not only improve the transparency of financial reporting but also facilitates financial accountability.

An accounting standard is relevant to a company’s financial reporting. Some common examples of accounting standards are segment reporting, goodwill accounting, an allowable method for depreciation, business combination, lease classification, a measure of outstanding share, and revenue recognition