Accounting standards provide norms and guidelines for accounting principles, methods, terminology, and financial statement presentation to promote uniformity. Following accounting standards makes financial information more reliable, dependable, and useful for comparing results across organizations. It also helps ensure accountability and allows for measuring management's efficiency regarding profitability, liquidity, and overall progress.

2. ACCOUNTING STANDARD
ADVANTAGES OF
ACCOUNTING STANDARD

3. Accounting standards are certain
norms and guidelines based on the
principles and methods of accounting
to be followed to have uniformity in
terminology approach and
presentation of results

4. Meaningful comparison
Reliability
Dependability
Accountability

5. Accounting standards help
in bringing the comparison of
the results of various
organizations meaningful.

6. Accounting standard helps in
providing reliability and credibility
to the financial information.

7. The results of the organizations
become more reliable and
dependable as the set of
standard rules are followed by
them.

8. Accounting Standers help in
measuring the efficiency of
management in respect of
profitability liquidity and general
progress.

9. write a short note about
accounting standard and its
advantages.