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Question
What is the difference between Indian GAAP and Accounting 
Standards.
 Question Submitted By :: Roberto Salgado
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What is the difference between Indian GAAP and Accounting Standards.
Answer
# 1
GAAP Stands for Generally Accepted Accounting Principles.
Accounting Standardards are issued by the Institute of
Chartered Accountants of India (ICAI). This is the largest
accounting body in the country. Now the Accounting
Standards are 29.Accounting Standards are prepared by
export persons.Generally Accepted Accounting Principles
means just like Accounting Concept which means every person
can accept this principles.
 
Is This Answer Correct ?    41 Yes 17 No
M.kishore Kumar
 
  Re: What is the difference between Indian GAAP and Accounting Standards.
Answer
# 2
Canadian GAAP consists of some changes with respect to the
one in India
 
Is This Answer Correct ?    5 Yes 23 No
H|l
 
 
 

 
 
 
Other Finance Interview Questions
 
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what is explosure Axis-Bank 1
WHAT DO YOU UNDERSTAND BY RESEARCH DESIGN? OUTLINE FORMAL RESEARCH DESIGN.   3
explain the impact of dividend policy on shareprice behaviour or pattern?   6
What is Capital Budgeting?   5
What is Money market & Capital Market? Capital-IQ 7
what is minority interest Capital-IQ 10
Having completed 4 years for electronics engineering studies , why you are interested to work in a bank ? Andhra-Bank 9
What is Futures contract?   7
What is NP? Lombard 15
What is convertible debenture? What is its effect on EPS? Capital-IQ 5
on which basis sensex and nifty will be maesured and also how the infletion rate measured   3
why you want to change from software to finance? Northern-Trust 5
 
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