Question

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

Answer 1

Objectives of Accounting standards:
1. To make financial statements more meaningful and comparable
2. To enable the comparability of  financial statements and thereby improve their reliability and usefulness.
 
The Institute of Chartered Accountants of India is responsible for issuing Accounting standards in India    

Answer 2

Answer:

Objectives of accounting standards are:

(1) To make financial statements more meaningful and comparable.

(2) To enable the compatibility of financial statements and thereby improve their reliability and usefulness.