Question

objectives of a new accounting system​

Answer 1

The primary objective of accounting standard is to harmonize the different accounting policies.This statement means that accounting standards are the conflict resolver in any case of accounts.To state the reliability and credibility of financial statements,the accounting standards have been improve and they provide a standard for the diverse accounting policies and principles.

Answer 2

Answer:

The new accounting system is important due to following reasons: It keeps a proper record of financial transaction of government offices to prepared the records of government fund, investment, revenue, and expenses. ... It provides necessary information and financial data to the government for preparation of annual budget.

Explanation:

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