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what are the accounting standards prevailed now in India.
Give a short description about each of them
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Answer Posted / bala
Accounting standards are being established both at national
and international levels. But the variety of accounting
standards and principles among the nations of the world has
been a sustainable problem for globalizing the business
environment.
* There are several standard setting bodies and
organizations that are now actively involved in the process
of harmonization of accounting practices. The most
remarkable phenomenon in the sphere of promoting global
harmonization process in accounting is the emergence of
international accounting standards.
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