Accounting standards and Standards on Auditing establish standards which have to be complied with to ensure that financial statements are prepared in accordance with ______.

Related MCQs

• Indian accounting standards are the International financial reporting standards converged standards issued by the central government of India under the supervision and control of accounting standards board of ICAI and in consultation with __________.
• Which of the following statements are true? I) Financial statements are only interim report. II) Financial statements are also known as annual records. III) Financial statements are historic.
• Whether financial reviews by management, environment reports and value added financial statements are outside the scope of international financial reporting standards (IFRSs)?
• Which of the following is true about financial statements? I)Financial statement gives a summary of accounts. II) Financial statements can be stated as recorded facts.
• Which of the following is the starting point for an entity accounting in accordance with IFRSs?
• Under Ind AS 1 how often should financial statements be prepared?
• If the two companies have different accounting policies in respect of the same item, then they make necessary changes to adopt .............. accounting policies.
• If the two companies have different accounting policies in respect of the same item, then they make necessary changes to adopt .............. accounting policies.
• As per IAS 1, Presentation of financial statement, ______ no of items would constitute complete set of financial statements.
• After convergence of Indian accounting standards with IFRS, new standard issued for preparing the cash flow statement is: