Rationale of accounting standards, Financial Management

Rationale of Accounting Standards

Accounting Standards are created along with a view to harmonise various accounting policies and practices in use inside a country. The goal of Accounting Standards is, thus, to decrease the accounting alternatives in the preparation of financial statements inside the bounds of rationality, thereby ensuring comparability of financial statements of various enterprises with a view to give meaningful information to several users of financial statements to enable them to make informed economic decisions.

Posted Date: 2/6/2013 1:02:31 AM | Location : United States

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