explain the accounting stadards and its objectives
Answers
Explanation:
Accounting standards (AS) are general policy files. Their major goal is to make certain transparency, reliability, consistency, and comparability of the monetary statements. They achieve this through standardizing accounting insurance policies and concepts of a nation/economic system.
Answer:
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Explanation:
accounting standards
An accounting is a policy that defines the treatment of an accounting transaction in financial statements
accounting standards provide guidance for companies to prepare and report useful financial statements in an accurate fashion
Objective
to increase the reliability of the financial statements
to provide standard which are transparent for users
to provide a suitable starting point for accounting
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