What do you mean by accounting standards and accounting?
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Accounting is the process of recording transactions, journal posting them, transferring into accounts and creating financial statements.
Accounting standards are guidelines issued by accounting standard setting bodies regarding preparation and presentation of accounts, so financial statements of different entities can be compared.
Accounting standards are guidelines issued by accounting standard setting bodies regarding preparation and presentation of accounts, so financial statements of different entities can be compared.
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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'.
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