What is the need for harmonisation of accounting standards
at global level?
- 2 Answers
- 5009 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / jdsri2002
This harmonisation is needed due to the globalization of
business and services and increase in FII, FDI and
Borrowings.
Accounting standards confirm to applicable laws, customs,
usages and business environment. So there is no universally
acceptable set of standards.
Accounting standards are different for commercial
undertakings and the government. For example, an auditor or
Accountant in India is faced with the different standards
like AS issued by ICAI, IFRS, US GAAPs, IPSAS issued by
IFAC and GASAB Standards.
The whole idea of accounting standards is centered on
Harmonisation of accounting policies and practices followed
by business to standardise the diverse accounting practices
followed for many aspects of accounting. The Harmonisation
of accounting standards is needed at global level.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / jitendra kumar jain
the only requirement of this concept is to standardization
of accounting standard across the globe so that any
international transaction can be done without any obstacle,
those are arises because of different accounting standard
in different country.
| Is This Answer Correct ? | 1 Yes | 0 No |
WHAT IS ASSESMENT YEAR?
I customized the tax procedures, after posting normal g&l (f-02), i got an error, error is complete lineitem display, its popup error message num, how can i find the message error, whats the t-code
what is open item managed account?
How is the price of a particular product fixed. What are the considerations taken for that?
where do u get credit opening balance?
what is the entry for accounts receivables and accounts payables? what is the entry for bills receivables and bills payables?
IF DEALER CAN SOLD A MATERIAL AT WHAT TIME THEY CAN CHARGE THE TCS
how to calculate BEP in this problem? Sales Rs.3,00,000 Fixed Exp. Rs. 75,000 Direct Material.Rs.1,00,000 Direct Labour Rs.60,000 Direct exp. RSs.40,000
What is the Branch Accountant Responsbilities ?
what is the exact meaning of debit and credit
what is meant by MIS reporting
IS ACCOUNTING MBA AND FINANCE MBA SAME OR DIFRENT
Audit 
