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 Accounting AllOther interview questions  Accounting AllOther Interview Questions
Question 
what is the usage of Acounting standard?, what is deferred 
tax?, what is operating Expenses and incomes?, what is the 
difference between subsidary and holding company? and what 
is right share and right issue?
 Question Submitted By :: Raj
I also faced this Question!!     Rank Answer Posted By  
 
  Re: what is the usage of Acounting standard?, what is deferred tax?, what is operating Expenses and incomes?, what is the difference between subsidary and holding company? and what is right share and right issue?
Answer
# 1		 
The Basic advantages of AS are as follows.
- Uniformity in the financial statements of all concerns.
- Leads to Better presentation of financial statements.
- Easy to make a comparitive sutdy of any two business 
organisations.

Differed Tax:
AS per AS 22, Differ Tax is the differnce between tax 
payable as per Book profit and tax payable as per tax laws.

Differ tax araises only becasue of timing difference on 
Current account Transactions.Like Deprecialtion.

Differed tax may be differ tax asset or differ tax 
liability.
 
Is This Answer Correct ?    1 Yes 0 No
Chalapathi Rao Govada
 

 
 
 
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