Accounting Standards Archives

What are the features of Ind‑AS 101?

Introduction Indian Accounting Standards (Ind-AS) are a set of accounting standards that have been converged with International Financial Reporting Standards (IFRS). Ind-AS 101 is particularly important as it provides the guidelines for first-time adoption of these standards by Indian companies. This standard ensures that financial statements are comparable and transparent across international and domestic borders, […]

What are Accounting standards? What is the need of issuing accounting standards?

Leave a Comment / BCOC-131 FINANCIAL ACCOUNTING /

Introduction Accounting standards are formal guidelines and principles that govern the preparation and presentation of financial statements. They ensure consistency, transparency, and comparability across financial reports. Issued by recognized bodies like the Institute of Chartered Accountants of India (ICAI) or the International Accounting Standards Board (IASB), these standards bring uniformity to financial reporting. Main Body

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