kruthika
asked over 2 years ago
Hi May I know, Key Difference between Indian accounting standards and international accounting standards is?
acharya
answered over 2 years ago
Hi, International Accounting Standards - These are accounting standard sissued by the International Accounting Standards Board (IASB) and its predecessor
veeru
answered over 2 years ago
--Accounting Standards - These are the Authoritative standards for financial reporting and are the primary source of generally accepted accounting principles (GAAP). Accounting standards specify how transactions and other events are to be recognized, measured, presented and disclosed in financial statements.
CA Sandeep Bohra
answered over 2 years ago
> Key Difference between Indian accounting standards and international > accounting standards --**Accounting Standards -** These are the Authoritative standards for financial reporting and are the primary source of generally accepted accounting principles (GAAP). Accounting standards specify how transactions and other events are to be recognized, measured, presented and disclosed in financial statements. **International Accounting Standards** - These are accounting standard sissued by the International Accounting Standards Board (IASB) and its predecessor
Shubhangi Jain
answered over 2 years ago
In international accounting LIFO and extraordinary items are prohibited
