The Institute of Chartered Accountants of India (ICAI), a leading accounting organization in the country, established the Accounting Standards Board (ASB) in 1977 to take on the leadership role in developing accounting standards for India. The ICAI has taken significant steps to ensure that the standard-setting process is transparent and involves all stakeholders. The ASB …
Accounting standards are official documents issued by the government and regulatory bodies to provide guidance on how to account for transactions and events in financial statements. They cover recognition, measurement, presentation and disclosure of accounting information. The purpose of these standards is to provide useful and timely financial information to investors and other stakeholders to …
When a company takes over a running business or incorporates itself after starting a business, in this situation the amount of profit or loss of such a business, for the period prior to the incorporation is known as the pre-incorporation profits or losses of the company. The company comes into existence after getting a certificate …
Profit or Loss Pre And Post Incorporation of The Company Read More »
