Question

Explain the different accounting standard for local bodies

Answer 1

Answer:

The Accounting Standards for Local Bodies are issued under the authority of the Council of the ICAI. The CASLB has also been entrusted with the responsibility of propagating the Accounting Standards and of persuading the concerned authorities to adopt them in the preparation and presentation of financial statements.

Answer 2

Explanation:

The Accounting Standards for Local Bodies are issued under the authority of the Council of the ICAI. The CASLB has also been entrusted with the responsibility of propagating the Accounting Standards and of persuading the concerned authorities to adopt them in the preparation and presentation of financial statements.