FINANCIAL ACCOUNTING: TOOLS LL W/ ACCES
FINANCIAL ACCOUNTING: TOOLS LL W/ ACCES
9th Edition
ISBN: 9781119493648
Author: Kimmel
Publisher: WILEY
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Chapter 1, Problem 1.2IP
To determine

Accounting standard

Accounting standard is a set of guideline, which must be followed by the firms while preparing its financial statements. This ensures comparability, consistency, reliability, transparency of a financial report.

To determine: The benefit of a single-set of high quality accounting standards.

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