Question

ᴡʜᴀᴛ ᴀʀᴇ ᴛʜᴇ ᴀᴅᴠᴀɴᴛᴀɢᴇs ᴏғ ᴀᴄᴄᴏᴜɴᴛɪɴɢ sᴛᴀɴᴅᴀʀᴅ??






☞ᴠᴀʟɪᴅ ᴀɴsᴡᴇʀ
☞ ᴅᴏɴ'ᴛ sᴘᴀᴍ
☞ ᴡᴀɴᴛ ʀᴇʟᴇᴠᴀɴᴛ ᴀɴsᴡᴇʀ

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Answer 1

Answer:

• Attains uniform in accounting
• Improves reliability of financial statements
• Prevents frauds and accounting manipulations
• Assist auditors
• Comparability
• Determining managerial accountability

Answer 2

Answer:

Advantages of accounting standards are

1. Attains Uniformity in Accounting
2. Comparability
3. Determining Managerial Accountability.
4. Assists Auditors
5. Prevents Frauds and Accounting Manipulations
6. Improves Reliability of Financial Statements. 
7. Provide a Benchmark
8. They Provide Guidance.
9. They Foster Transparency. One advantage of using GAAP involves the ease of understanding the financial statements

$\Large\textsf{Hope \: It \: Helped}$

꧁Dipayan꧂