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difference between as-4 and aas-19

Kumar Gaurav (Going...to be C.A soon...) (1624 Points)

11 September 2007

plz tell me the difference between AS-4 and AAS-19.

i cant understand this so plzzzzz

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2 Replies

Nitesh (Chartered Accountant) (340 Points)
Replied 11 September 2007

AS are to be followed by managment where as AAS to be followed by auditor the main difference is that

madhusudan (Professional) (267 Points)
Replied 12 September 2007

Accounting standard is used to bring consistency in accounting where several alternatives are possible for ex, the valuation of stock in trade, calculation of depreciation, etc. But, AAS are meant for the auditors to satisfy himself the accuracy of the statements made to him.