Question

Accounting Standards have been developed to
improve
the reliability of financial statement
comment​

Answer 1

Answer:

Objectives of Accounting Standards are: <br> (i) Minimise the diverse accounting policies and practices with the aim to eliminate them to the extent possible. <br> (ii) Promote better understanding of financial statements. <br> (iii) Understand significant Accounting Policies adopted and applied. <br> (iv) Facilitating meaningful comparison of financial statements of two or more entities. <br> (v) Enhancing reliability of financial statements.