The primary use of accounting standards is

1.	The primary use of accounting standards is
Answer» THE PRIMARY OBJECTIVE OF ACCOUNTING STANDARDS ARE: To provide a standard for the diverse accounting policies and principles. To put an end to the non-comparability of financial statements. To increase the reliability of the financial statements. To provide standards that are transparent for users. To define the standards which are comparable overall periods presented. To provide a suitable starting point for accounting. It contains high-quality information to generate financial reports. This can be done at a cost that does not exceed the benefits. For the eradication the huge amount of variation in the treatment of accounting standards. To facilitate ease of both inter-firm and intra-firm comparison. Helps to maintain books in international market requirements.

Answer»

To provide a standard for the diverse accounting policies and principles.
To put an end to the non-comparability of financial statements.
To increase the reliability of the financial statements.
To provide standards that are transparent for users.
To define the standards which are comparable overall periods presented.
To provide a suitable starting point for accounting.
It contains high-quality information to generate financial reports. This can be done at a cost that does not exceed the benefits.
For the eradication the huge amount of variation in the treatment of accounting standards.
To facilitate ease of both inter-firm and intra-firm comparison.

Helps to maintain books in international market requirements.

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