Question

Accounting standards means​

Answer 1

Answer:

generally accepted accounting principles

Accounting standards are authoritative standards for financial reporting and are the primary source of generally accepted accounting principles (GAAP). Accounting standards specify how transactions and other events are to be recognized, measured, presented and disclosed in financial statements.

FOR EXAMPLE

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.