Description Advanced Financial Accounting focuses on accounting for multi-corporate entities and acquisitions, accounting for state and local governments, accounting for non-profit organizations, foreign operations. Richard Lewis and David Pendrill Advanced Financial Accounting seventh edition Advanced Financial. ADVANCED FINANCIAL ACCOUNTING & REPORTING ~ Books for Accontants Free Download. Accounting standards are written , policy documents issued by expert accounting body or by Governmentor other regulatory authorities covering the aspects of recognition, measurement, treatment, presentation and disclosure of accounting transaction in the fi nancial statement. The main purpose of formulating accounting standard is to standardize the diverse accounting policies with a view to eliminate to the extent possible the incomparability of information provided in fi nancial statements and add reliability to such fi nancial statements. To discuss on whether such standards are necessary in present days it will be benefi cial to go through the advantages and disadvantages which they are said to provide.
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