answersLogoWhite

0


Best Answer

Indian accounting standards are developed by Indian board and only applicable in India while international accounting standards are developed by International Accounting standard board and applicable to all countries.

User Avatar

Wiki User

13y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What are the differences between Indian Accounting Standards and International Accounting Standards?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What are the differences between Indian accounting standards and U.S. accounting standards?

Here is a link to a great paper by from the SEC , outlining the major differences in International Accounting Standards.


Is there significant differences exist between accounting standards issued by the fasb and the iasb?

no


What are the deferences between accounting theory and IAS?

Accounting theory is a framework for understanding accounting principles and concepts, while IAS (International Accounting Standards) are specific guidelines and rules set by the International Accounting Standards Board for how financial statements should be prepared and presented. Accounting theory provides the foundation for accounting standards, including IAS, by guiding the development of principles and concepts used in accounting practice.


Difference between international accounting standard and accounting theory?

IFRSs refers to the new numbered series of pronouncements that the IASB is issuing, as distinct from the International Accounting Standards (IASs) series issued by its predecessor. More broadly, IFRSs refers to the entire body of IASB pronouncements, including standards and interpretations approved by the IASB and IASs and SIC interpretations approved by the predecessor International Accounting Standards Committee On the other hand by simple Accounting Standard we mean " Accounting Standard issued by the Institute of Chartered Accountants of India(ICAI)".


What is the difference between international accounting standard's and Indian accounting standard's?

GAAP Stands for Generally Accepted Accounting Principles. Accounting Standardards are issued by the Institute of Chartered Accountants of India (ICAI). This is the largest accounting body in the country. Now the Accounting Standards are 29.Accounting Standards are prepared by expert persons.Generally Accepted Accounting Principles means just like Accounting Concept which means every person can accept this principles.


Different between international accounting and domestic accounting?

The difference between international accounting and domestic accounting is that whereas one is international the other is local. The international accountants must be certified by the international bodies while the local accounts must be certified by the local bodies.


What are the differences between direct cost and indirect cost in management accounting.?

what are the differences between direct cost and indirect cost in financial accounting


What is different between auditing and international accounting standard?

The international accounting standards are standards to which the accounting procedures for organisations must comply with. It specifically relates to the preparation of reporting, such as the preparation of the financial statement, cash flow statement and the balance sheet. Auditors are professionals who analyse whether the organisation has prepared all the statements in accordance with the accounting standards, and any errors are reported to the related governing body, which in Australia is ASIC. For more details, please look up the Corporations Act which has a large section related to financial statements and auditors.


What are two differences between large business accounting and accounting for small businesses?

none


Distinguish between generally accepted auditing standard and generally accepted accounting principle?

general standards field work of standards reporting standards


What are the objectives of public sector accounting?

Standards of consistency, quality, information sharing between Accountants, and transparency in reporting are the base objectives of public sectors accounting.


What are similarity between manual and computerized accounting?

Differences include: *Speed *Cost *Back up