benefits of accounting standards
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benefits of accounting standards
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Answer:
1] Attains Uniformity in Accounting. ...
2] Improves Reliability of Financial Statements. ...
3] Prevents Frauds and Accounting Manipulations. ...
4] Assists Auditors. ...
5] Comparability. ...
6] Determining Managerial Accountability. ...
1] Difficulty between Choosing Alternatives. ...
2] Restricted Scope.
=> What is accounting standard ?
=> An accounting standard is a common set of principal ,standards that define the basis of financial accounting policies and practice
Benefits of accounting standard
Limitation of accounting standard
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