Significance of accounting standardssetting of standards is, Ask an Expert

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Significance of Accounting Standards:

Setting of Standards is an effort to standardize the reporting of accounting information across the country and also transversely the globe. The increasing number of scams (ex : Enron) requires the subsistence of accounting standards. The acceptance and application of accounting standards ensure consistency, comparability and qualitative development in the preparation and arrangement of financial statements.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9511544

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