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What type of financial statements are the Accounting Standards used for?

April 26, 2017Accounting financial statements Standards type Used

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What type of financial statements are the Accounting Standards used for?

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The Accounting Standards are used for general purpose financial statements such as balance sheet, statement of Profit and Loss Account, cash flow statement (wherever applicable) and statements/Schedule and explanatory notes which form part thereof issued for the use of various stakeholders, shareholders, auditors /Bankers, Governments and the general public.