This paper seeks to write about an overview of international accounting standards. The paper will discuss the nature and purpose of these accounting standards, the makers and users. This will also discuss accrual and cash accounting, as way of explaining the importance of these standards. 2. Analysis and Discussions 2. 1 What is the nature and purpose of these international accounting standards? International Accounting Standards […]

Australian Accounting Standards                  These are the standards according to which listed companies function. All have to abide by and follow the standards applicable to them. These standards vary from income taxes to business combinations, from materiality to revenue. The standard in focus below is related to employee benefits. Employees are a very important part of any business and accounting standard boards make sure that […]

1. Various sources of accounting standards: The accounting standards originated from many different sources. These include: –          Agency of the Federal government (notably the Securities and Exchange Commission and Treasury Department). –          State regulatory commissions –          Public Accountants –          Quasi-public accounting standards-setting boards (the committee on Accounting procedures (CAP) –          The Accounting Principles Board (APB) –          The Financial Accounting Standards Board (FASB) –          Corporate Managements […]