Standards and principles of accounting

Question 1

International accounting standards board (IASB)

Answer 1

develpoed common accounting standards to be used globally called the international financial reporting standards (IFRS)
Eg. How financial statemnents must be prepared.

Question 2

Institute of chartered accountants of jamaica (ICAJ)

Answer 2

A local regulatory body aimed at setting standards and advancing the accounting professions.

Question 3

Association of chartered certified accountants (ACCA)

Answer 3

A global professionals accountancy body which provides certification/ qualification.

Question 4

Financial accounting standards board

Answer 4

Developed the Generally Accepted Accounting Principles (GAAP)