Indian and International Accounting Standards & Practices Free Essay, Term Paper and Book Report
Indian and International Accounting Standards & Practices
By
Prof. Vishwanathan Bharathan
Assistant Professor
Doddappa Appa Institute of MBA
Gulbarga-585103
E-mail: v_bharathan@hotmail.com
Introduction:
Accounting Standards are used as one of the main compulsory regulatory mechanisms for preparation of general-purpose financial reports and subsequent audit of the same, in almost all countries of the world. Accounting standards are concerned with the system of measurement and disclosure rules for preparation and presentation of financials statements. They appear with a set of authoritative statements of how particular types of transactions, events and other costs should be recognized and reported in the financial statements. Accounting standards are devised to furnish useful information to different users of the financial statements, to such as shareholders, creditors, lenders, management, investors, suppliers, competitors, researchers, regulatory bodies and society at large and so on. In fact, such statements are designed and prescribed so as to improve & bench......
Word Count: 2646
Page Count: 10.5 (250 words a page / double spaced)
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