Accountancy, asked by aryan700, 1 year ago

what do you mean by accounting standard

Answers

Answered by Smartyyogi45
5
An accounting standard is a principle that guides and standardizes accounting practices. The Generally Accepted Accounting Principles (GAAP) is a group of accounting standards widely accepted as appropriate to the field of accounting necessary so financial statements are meaningful across a wide variety of businesses and industries. 
Answered by InFocus
0

Answer:

Accountancy is the process of managing the income and expenses of a business. Manage your accountancy needs with a comprehensive accounting system such as Debitoor. Start today. The process of recording and summarising financial transactions is known as 'bookkeeping'.

Explanation:

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