Before the introduction of accounting standardsnbsp, Ask an Expert

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Before the introduction of accounting standards, accounting practices varied from enter- prise to enterprise - there was inconsistency and occasionally practices were inappropriate. Intercompany and inter-period comparisons were difficult as enterprises changed account- ing policies and resorted to, for example, 'window-dressing' and 'reserve accounting'.

Discuss the extent to which the publication of more than 20 accounting standards has overcome these problems. Illustrate your discussion by reference to specific accounting standards.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91625268

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