What is the main objective of setting accounting standards?
Accounting Standards are the guidelines for the preparation and presentation of Financial Statemanets . The objective of setting Accounting Standards is to bring uniformity in accounting practices and to ensure transparency , consistency and comparability .
What is the objective of Ind AS 28?
Ind AS 28, Investments in Associates and Joint Ventures: The objective of Ind AS 28 is to prescribe the accounting for investments in associates and to set out the requirements for the application of the equity method when accounting for investments in associates and joint ventures.
What are the features of Ind AS?
A complete set of financial statements under Ind AS includes the following: • Balance sheet at the end of the period • Statement of profit and loss for the period • Statement of changes in equity for the period • Statement of cash flows for the period; notes, comprising a summary of significant accounting policies and …
What are the objectives of IND as Class 11?
The objective of Ind AS 111 is to establish principles for financial reporting by entities that have an interest in arrangements that are controlled jointly (i.e. joint arrangements).
What are the objectives of IND as any two Class 11?
Answer : Objective is to Standrize the diverse accounting polices and practices. These accounting standards were implemented to eliminate the non – comparability of financial statements and the reliability to the financial statements..
What is IND 112?
Ind AS 112, Disclosure of Interests in Other Entities: The objective of Ind AS 112 is to require an entity to disclose information that enables users of its financial statements to evaluate: the effects of those interests on its financial position, financial performance and cash.
What is a treatment IND?
The treatment IND [21 CFR 312.34 and 312.35] is a mechanism for providing eligible subjects with investigational drugs for the treatment of serious and life-threatening illnesses for which there are no satisfactory alternative treatments. Treatment IND studies require prospective IRB review and informed consent.
What is IND 113?
Indian Accounting Standard 113 (Ind AS 113) helps companies with a unified procedure to define the fair value of assets while declaring their financing statements. The standard, apart from setting a single framework for measuring fair value, also prescribes the methods of disclosures of fair value measurements.