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LoginAccounting Standards have been evolved to improve thr relability and credibility of Financial Statements . Accounting Standards provide the solution in case of conflicts among various groups' In the light of this statement, enumerate the objectives of Accounting Standards.
Class 11 Accounts in Class 11 3 years ago
(i) Minimise the diverse accounting policies and practices with the aim to ELIMINATE them to the extent POSSIBLE.
(ii) Promote better understanding of financial statements.
(iii) Understand SIGNIFICANT Accounting Policies ADOPTED and applied.
(iv) Facilitating meaningful comparison of financial statements of two or more entities.
(v) Enhancing reliabilityof financial statements.
Posted on 04 Dec 2021, this text provides information on Class 11 related to Accounts in Class 11. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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