What are Accounting Standards? Accounting Standards are the defined accounting policies issued by Government or expert institute. These standards are issued to bring harmonization in follow up of accounting policies.   Types of Indian Accounting Standards? Presently, Institute of Chartered Accountants of India has issued 29 Accounting Standards as listed below.   AS 1.              ...

Accounting Scandals  Several big firms have come under scrutiny recently for questionable accounting practices. Some of the world’s biggest accounting scandals. Here we are discussing FIVE classic accounting scandals   WorldCom   WorldCom was one of the big success stories of the 1990s. It was a symbol aggressive capitalism. Founded by Bernie Ebbers, one of the most aggressive acquirer during...