Accounting Standards And Their Impact On Accounting Practice In Nigeria

CHAPTE ONE 1.0 INTRODUCTION 1.1 Background of the Study Accounting standard can be regarded as the type of accounting prepared which: follow a laid down rife. It usually demands minimum level of disclosure and lay down principles which enable the accountant to specify the account prepared clearly and male a nice report based on the account prepared. Again, accounting standard in line; with the financial statement which is usually prepared annually and enable the company to know their profit and loss account. The essence of adopting such standard is to enable the accountant to know the princip…