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Definition, Scope and Accounting Standards including Ind AS
What are the four functions that fall within bookkeeping?
The four bookkeeping functions are Identifying financial transactions, Measuring them in money, Recording them in books of original entry, and Classifying them through ledger postings.
On which date was the Accounting Standards Board (ASB) constituted by ICAI?
21st April 1977
Which activities are added by accountancy on top of bookkeeping?
Accountancy adds designing the bookkeeping system, establishing internal controls, analysing data, reporting to stakeholders, and supplying management with information for decision-making.
Which Indian Accounting Standard (AS) deals with Cash Flow Statements?
AS 3
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