Question

accounting standards are prepared by
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Answer 1

Answer:

Accounting Standards can be any form of statement which consists of rules and guidelines, issued by the accounting institutions, for the preparation of uniform and consistent financial statements. This also includes disclosures required by the different users of accounting information.

Explanation:

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Answer 2

Answer:

An accounting standard is a common set of principles, standards and procedures that define the basis of financial accounting policies and practices. Accounting standards improve the transparency of financial reporting in all countries. In the United States, the Generally Accepted Accounting Principles form the set of accounting standards widely accepted for preparing financial statements. International companies follow the International Financial Reporting Standards, which are set by the International Accounting Standards Board and serve as the guideline for non-U.S. GAAP companies reporting financial statements.

Explanation:

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