Interested to Buy Any Domain ? << Click Here >> for more details...
what is accounting standard?
- 58 Answers
- 107108 Views
- ABC, Accounting, Banking, College School Exams Tests, Genpact, JK Associates, Livewire, TCS, Vijai Electricals, YCH, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / rohit garg
Accounting Standards are the principal that we can measure
company,s position without accounting standard we can,t
prepared company,s account.
| Is This Answer Correct ? | 10 Yes | 16 No |
Answer / abdul qader
Accounting standerd is specific rules and regulation which
is determind by financial standerd accounting board
| Is This Answer Correct ? | 7 Yes | 17 No |
Answer / sreedevi
WITH THE HELP OF ACCOUTING STANDARDS ONLY WE CAN TREAT ALL
THE FINANCIAL TRANSACTIONS. AS PER MY KNOWLEDGE THERE ARE
24 ACCOUNTING STANDARDS.
| Is This Answer Correct ? | 22 Yes | 37 No |
Answer / hashim
In order for balance sheets and profit and loss accounts to
make sense users who rely on them for their decision making
purposes, there has to be consistency in the way items are
treated in the financial statements. Without this agreement
it would be impossible to use them to compare business
performence.Limited companies have a statutory duty to
comply with these rules and it is the job of the qualified
auditor to check this compliance.Partnerships and sole
traders are also often bound by these rules because of
professional or trade association standards or because of
the conditions attached to loans.
| Is This Answer Correct ? | 9 Yes | 24 No |
Answer / umesh tayal
Accounting standard are make by ICAI. They are fourteen.
Every decisions or entry take by in this.
| Is This Answer Correct ? | 26 Yes | 45 No |
Answer / kanika
Some accounting standards are:
1. Seperate entity
2. Dual entry
3. Going concern
4. Accounting period
5. monetary measurement
6. cost concept i.e. recording assets on purchase price not
on market value
7. Revenue recognition i.e. entry of a tranaction in books
at the time of accrual not at time of payment or receiving
8. matching methood, Bifurcation of items as direct on
indirect between trading & p&L a/c
9. Accrual concept
10. consistency in using the rules & methoods of accounting
| Is This Answer Correct ? | 45 Yes | 68 No |
Answer / ravi
acounting standards are the standards which were given by
the a/cing standard board presently there are 33 a/cing
standards
| Is This Answer Correct ? | 45 Yes | 80 No |
expand T R P
how to Caluculate professional Tax
If a bank lends money to FFMC's for working capital requirement, whether the Bank can have charge on the currencies FFMC deal/exchange, by way of hypothecation or is it just a clean loan.
ACCOUNTING CONCEPTS AND CONVENTIONS
4 Answers Bajaj, Bajaj Capital,
what is assesment? who do the assesment by income tax or sale tax,and when doing the assesment?what is the perod limit of assesment? assesment order sent by income tax or sale tax which form?
What are write off entries to be passed say if im having payable of Rs. 400 standing in the balance sheet and I want to write it off...
Define the word Profit in terms of business
what is different between expenses (direct) and direct expenses?
EXPAND______________IDBI?
Expand-------- CTEI
How do you value freehold property investment assets?
in which group under we will open donation and hamali weekly payment account or ledger
Audit 
