chapter 7

Conceptual Framework for the Preparation and Presentation of Financial Statements in Accordance with Indian Accounting Standards (Ind AS)

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In the dynamic and complex business environment of the day, it has become imperative to have a strong conceptual framework for accounting and financial statements that sets out the principles and concepts underlying their preparation and presentation.

CHAPTER OBJECTIVES

This chapter seeks to enable you to develop knowledge and understanding of:

  1. The need for and purpose of conceptual framework of accounting and financial statements.
  2. What constitutes the components of financial statements. ...

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