What are accounting standards

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Reference no: EM132569179

Question 1: What is the primary objective of financial accounting?

Question 2: What are accounting standards? Why companies should follow accounting standards in reporting to primary users?

Question 3: What are the benefits that the following users may gain from financial accounting and the financial statements of an entity? a. Investors b. Creditors c. Government d. Employees

Question 4: Identify at least two important variables to be considered when making an investment decision.

Question 5: Explain the role of the IASB in the setting of accounting standards.

Reference no: EM132569179

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