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Unit 3: Accounting Standards




          3.5 Review Questions                                                                  Notes

          1.   What do you understand by accounting standards? Explain and also what is the legal
               status of Accounting Standards in India.

          2.   How many Accounting Standards are given by the Institute of Chartered Accountants of
               India? And how many of them are made mandatory. Explain.

          Answers: Self  Assessment

          1.   Accounting Standards

          2.   Generally Accepted Accounting Principles
          3.   Financial Statements
          4.   Provision

          3.6 Further Readings




           Books      Khan and Jain, “Management Accounting”.
                      M.P. Pandikumar, “Accounting & Finance for Managers”, Excel Books, New Delhi.

                      R.L. Gupta and Radhaswamy, “Advanced Accountancy”.
                      S.N. Maheswari, “Management Accounting”.
                      V.K. Goyal, “Financial Accounting”, Excel Books, New Delhi.




          Online link  www.futureaccountant.com



































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