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An authoritative statement of how particular types of transaction and other events should be reflected in financial statements. Compliance with accounting standards will normally be necessary for financial statements to give a true and fair view.
(NOTE: These principles are recommended by the Accounting Standards Board in the United Kingdom or by the FASB in the United States.)
"accounting standard." Dictionary of Accounting. London: A&C Black, 2007. Credo Reference. Web. 24 October 2013.
"The FASAB serves the public interest by improving federal financial reporting through issuing federal financial accounting standards and providing guidance after considering the needs of external and internal users of federal financial information." Use the "Standards" tab.
One of the principle objectives of the IFRS Foundation is "to develop a single set of high quality, understandable, enforceable and globally accepted International Financial Reporting Standards (IFRSs) through its standard-setting body, the International Accounting Standards Board (IASB)." Standards and interpretations are available (under the IFRS tab) to registered users.