Question

Accounting standards are issued by which of the following entity, in India?
1. ICAI
2.SEBI
3.RBI
4.IFRS

Answer 1

RBI ( Reserve Bank Of india ) is the answer..

Answer 2

At present, there are thirty Accounting Standards issued by ICAI.

Indian accounting principle which is abbreviated as Ind-AS, says that the principle adopted by firms at the country intervals and issued below the oversight of Accounting Standards Board that was official as a body among the year 1977. MCA ought to spell out the accounting standards applicable to corporations at intervals the state.

"ICAI" has revised/formulated "Ind AS" on the conception of the amendments and "new IFRS" issued by the IASB succeeding Feb 2011.