Accounting Standard

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 July 2011 Sir i am very confused about the standards. what is exactly the Accounting Standard, IAS, USGAAP, IFRS.
These all are the accounting principals used to prepare the financial statements. But i am totally confused what should i (as Indian citizen) read.
Which form of standard is applicable in India right now.

Sunil Mate

Sunil Mate (Expert)
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16 July 2011 you have to Follow/Read Indian Accounting Standards (AS) for preparation of Financial Statement for Orgainsation in India.

Indian Accounting Standards are based on US GAAP.