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accounting standards and accounting concepts

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(Querist)
09 May 2008 hello....
i would like to know the difference between accounting standards and accounting concepts
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MANAS ROUT

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MANAS ROUT (Expert)
10 May 2008 STANDARD MEANS THE STANDARDS PRESCRIBED BY ICAI
ACCOUNTING CONCEPT MEANS ITS A PART OF ACCOUNTING PRINCIPLES.
ACCOUNTING PRINCIPLES INCLUDES BOTH ACCOUNTNG CONCEPTS AND ACCOUNTING CONVENTION.

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