accounting standard board was established in india in 1977.
accounting standard board was established in india in 1977.
when was accounting standard board established in india?
1977
indian accounting standards









































indian accounting standard (abbreviated as ind-as) is the accounting standard adopted by companies in india and issued under the supervision of accounting standards board (asb) which was constituted as a body in the year 1977. asb is a committee under institute of chartered accountants of india (icai) which consists of representatives from government department, academicians, other professional bodies viz. icai, representatives from assocham, cii, ficci, etc.
indian accounting standards
evaluating and understanding the fundamental ideas of accounting is extremely important as they establish the foundational structures of accounting in which most of the constructed knowledge is based on. it introduces the principles of accounting which provide the understanding of reasons behind all decisions.









































section::::objectives of accountancy.









































financial reporting aims to provide information about firms' financial performance of which the firm uses to record the past transactions and apply changes to the future financial plan.









































section::::objectives of accountancy.:iasb (international accounting standard board).









































the ultimate aims of the iasb and other accounting standard-setters are:
philosophy of accounting