Indian GAAP
**Indian GAAP**
What is Indian GAAP?
Indian Generally Accepted Accounting Principles (GAAP) are the accounting standards used in India for preparing and presenting financial statements. These standards are issued by the Institute of Chartered Accountants of India (ICAI) and are based on the Companies Act. Indian GAAP aims to ensure that financial statements are reliable, relevant, and comparable, providing a true and fair view of a company's financial performance and position. It is commonly used by companies in India for financial reporting to stakeholders such as investors, creditors, and regulators.
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