Transcription of ADVANCED FINANCIAL ACCOUNTING & REPORTING
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ADVANCEDFINANCIAL ACCOUNTING & REPORTINGThe Institute of Cost and Works Accountants of India12, SUDDER STREET, KOLKATA - 700 016 FINALGROUP - IVPAPER - 16 First Edition : January 2008 Revised Edition : March 2009 Second Revised Edition : June 2010 Published by:Directorate of StudiesThe Institute of Cost and Works Accountants of India12, SUDDER STREET, KOLKATA - 700 016 Printed at : India Limited,50/2, TTC MIDC Industrial Area, Mahape, Navi Mumbai - 400 710, IndiaCopyright of these Study Notes is reserved by the Institute of Cost and Works Accountants of India and prior permission from the Institute is necessary for reproduction of the whole or any part Page No. Study Note - 1 Introduction to IAS, USGAAP, Indian ACCOUNTING Standard.
Advanced Financial Accounting & Reporting Accounting concepts Accounting concepts defi ne the assumptions on the basis of which fi nancial statements of a business entity are prepared. Certain concepts are perceived, assumed and accepted in accounting to provide a unifying structure and internal logic to accounting process.
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