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Finance & Accounts
US GAAP Vs. Indian GAAP
Tags :
indian gaap, cpa, ifrs, gaap, fasb, accounting, accounting information, revenue recognition, gaap accounting, accounting standards, financial reporting, international accounting, business accounting software,
Industry :
Banking
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About "US GAAP Vs. Indian GAAP" topic:
This topic will cover discussion around whether Indian accounting standards are as comprehensive as US GAAP (Generally Accepted Accounting Practices)? Have the newly introduced Indian accounting standards helped narrow the gap between our GAAP and the US GAAP. Share your insights on this topic here.....
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on topic: "US GAAP Vs. Indian GAAP"
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Indian GAAP
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US GAAP
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Hitesh Moghe
| Argues in support of
"US GAAP"
| 3 years ago
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Under US GAAP as well there is no prescribed format, SEC guidelines Rule S-X prescribe minimum line items to be shown on the face of income statement. US GAAP requires prospective application of change in accounting policy and proforma disclosure...
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Saurabh Ratnakar
| Argues in support of
"Indian GAAP"
| 3 years ago
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Framework statements have been issued in IGAAP . IGAAP provides two formats of Balance Sheet- Horizontal and Vertical format and order of presentation as well . Liquidity order differs in Indian GAAP vis a vis USGAAP.
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