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What are Objectives of accounting standards?

In: Financial Statements [Edit categories]

Answer:

the main objetive it to have the same way of reporting financial information

First answer by ID3563066907. Last edit by ID3291030570. Question popularity: 1 [recommend question].

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What are the objectives of accounting standard?
The objectives of any accounting is to show the financial standing of a business at any given point in time. The accounting standard is set to insure that businesses use the exact same method of...
What are objectives of accounting?
In what respect? Do you mean purpose?
How many international accounting standard do you have in accounting?
There are currently 41 IAS and 9 IFRS. Although not all of the ISAs are still used as they superseded by other standards and made outdated.
Who is responsible for formulating accounting standards?
International accounting standard board is responsible for standards more information at http://www.iasb.org/Home.htm
Need of accounting standard?
Accounting is the art of recording transactions in the best manner possible, so as to enable the reader to arrive at judgments/come to conclusions, and in this regard it is utmost necessary that...