⟩ Tell me how many accounting standards are currently published?
Accounting Standards are formulated with a view to harmonise different accounting policies and
practices in use in a country. The objective of Accounting Standards is, therefore, to reduce the
accounting alternatives in the preparation of financial statements within the bounds of rationality,
thereby ensuring comparability of financial statements of different enterprises with a view to
provide meaningful information to various users of financial statements to enable them to make
informed economic decisions.ICAI issued a total of 33 accounting standards.
