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Topic Content:
- Nigerian Accounting Standard Board
An accounting standard is a standardized guiding principle that determines the policies and practices of financial accounting. Accounting standards not only improve the transparency of financial reporting but also promote financial accountability .
They are the various pronouncements made by accounting bodies regarding the preparation of financial statements. In Nigeria, accounting standards are now issued by the Financial Reporting Council of Nigeria (FRCN) , which replaced the former Nigerian Accounting Standards
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