Accounting Thesis Example | Topics and Well Written Essays - 250 words

Accounting - Thesis Example The accounting standard deals with the disclosure of important accounting rules followed in presenting and preparing financial statements. In the early years, this activity was recommendatory in nature. Throughout this period, this was recommended for utilization by business firms listed on a familiar stock exchange, and other huge industrial, commercial and business enterprises in the private and public sectors. This accounting standard is accounting for fixed assets. In various enterprises these assets are grouped into different groups, for instance buildings, land, plant and machinery, furniture and fittings, vehicles, goodwill, patents, trade marks and designs. â€Å"This Standard deals with accounting for government grants. Government grants are sometimes called by other names such as subsidies, cash incentives, duty drawbacks, etc† (Accounting Standard (AS) 12: Accounting for Government Grants 125). FASB Statements and Standards. ICAEW: Library & Information Service. 2012. Web. 08 February 2012. < http://www.icaew.com/en/library/subject-gateways/accounting-standards/us-accounting-standards/fasb-statements-and-standards