The Accounting Standards Committee (ASC) was a joint committee established in 1976 to create and issue accounting standards in the UK. It was later replaced by the Accounting Standards Board (ASB) due to concerns about its effectiveness.
The Accounting Standards Committee (ASC) is a significant entity responsible for establishing and maintaining accounting standards to ensure consistency, transparency, and reliability in financial reporting.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.