Question

define Standards . State any two objectives of Accounting standards ? Who is responsible for issuing Accounting standards in india ?​

Answer 1

Answer:

standard is something considered by authority or by general consent as a basis of comparison;an approved model ...

the two objectives of accounting standards are :-

a)To make financial statements more meaningful and comparable.

b) To provide a standard set of accounting policies, valuation norms and disclosure requirements,on basis of which financial statements should be prepared.

Standard accounting are issued by the institute of chartered accountants of India(ICAI)