Differences
This query is : Resolved
RAMANATHAN K
(Querist)
24 September 2014
What is the difference between accounting standards and standards on auditing?
Nikhil Kaushik
(Expert)
24 September 2014
accounting standards have been formulated to provide guidance for preparation of financial statements whereas standards on auditing are guidance for auditor for how to conduct audit.
Message likes :
1 times
RAMANATHAN K
(Querist)
24 September 2014
For the preparation of balance sheet we must use both or only accounting standards?
Nikhil Kaushik
(Expert)
24 September 2014
as management you will only be looking at accounting standards. the auditor will doing his work will look at both the accounting standard and standards on auditing.
Message likes :
1 times
RAMANATHAN K
(Querist)
24 September 2014
Thanks for the information.
Nikhil Kaushik
(Expert)
24 September 2014
you are welcome......
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Query on effect of registration of property
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Foriegn assets disclosure
- Number of years as per AS amortisation of Goodwill
- Additional trade name
- Equity Share Sale and Purchase
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
