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Accounting standard

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(Querist)
10 January 2013 what is accounting standard, please explain
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
11 January 2013 The accounting profession requires rules and guidelines on how to report on financial statements so as to provide accurate and reliable information. Therefore, accounting standards are formulated to provide guidance to the accounting profession.
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