TAILIEUCHUNG - INDIAN ACCOUNTING STANDARDS - A PERSPECTIVE

In the future, the domestic voluntary carbon offset market may be largely superseded by a mandatory . trading program for greenhouse gas emissions. Even if it is, there may be grounds for government oversight of the voluntary market today. Oversight may be desirable, for example, to protect consumers and the public interest, to allow learning for regulators, and to provide greater certainty for investors. Oversight could take several forms, ranging from endorsing specific (complete) standards and programs, to providing guidance or certification for accounting standards, verifiers, and registries. In general, oversight should build off the work of existing standards and. | INDIAN ACCOUNTING STANDARDS -A PERSPECTIVE The paradigm shift in the economic environment in India during last few years has led to increasing attention being devoted to accounting standards as a means towards ensuring potent and transparent financial reporting by corporate. Further cross-border raising of huge amount of capital has also generated considerable interest in the generally accepted accounting principles in advanced countries such as USA. Initiatives taken by International Organisation Securities Commission IOSCO towards propagating International Accounting Standards IASs International Financial Reporting Standards IFRSs issued by the International Accounting Standards Board IASB as the uniform language of business to protect the interests of international investors have brought into focus the IASs IFRSs. The Institute of Chartered Accountants of India being a premier accounting body in the country took upon itself the leadership role by establishing Accounting Standards Board more than twenty five years ago to fall in line with the international and national expectations. Today accounting standards in India have come a long way. Presented hereinafter are some salient features of the accounting standard-setting endeavours in India. Rationale of Accounting Standards Accounting Standards are formulated with a view to harmonise different accounting policies and practices in use in a country. The objective of Accounting Standards is therefore to reduce the accounting alternatives in the preparation of financial statements within the bounds of rationality thereby ensuring comparability of financial statements of different enterprises with a view to provide meaningful information to various users of financial statements to enable them to make informed economic decisions. The Companies Act 1956 as well as many other statutes in India require that the financial statements of an enterprise should give a true and fair view of its financial position and working .

TÀI LIỆU MỚI ĐĂNG
Đã phát hiện trình chặn quảng cáo AdBlock
Trang web này phụ thuộc vào doanh thu từ số lần hiển thị quảng cáo để tồn tại. Vui lòng tắt trình chặn quảng cáo của bạn hoặc tạm dừng tính năng chặn quảng cáo cho trang web này.