Developing Accounting Standards Services
An accounting standard is a common set of principles, standards and procedures that define the basis of financial accounting policies and practices. Accounting standards improve the transparency of financial reporting in any organization and are the norms of accounting policies and practices issued by the accounting bodies, national and international, for the guidance of their members regarding the treatment of the items, which make the financial statements and their disclosure therein. The establishment and enforcement of standards is an important issue for the accounting professional and its interested users. Determining the best mechanism to employ in the establishment of uniform accounting standards in any region is also very important due to cultural, regional, economical factors that increase the acceptability and usefulness of accounting standards.
Application of accounting standards
Changes in accounting policies
Enforcement of accounting standards
Objectives and impact of accounting standards
Need for cost/benefit analysis of standards
Development of fund accounting techniques and the discovery of their inadequacies.