1.   A new accounting standard allowed the thrifts to amortize the losses over the life of the loans.

2.   But it must be remembered that the process of evolving acceptable accounting standards has taken many years.

3.   Companies are required to state that their accounts are prepared in accordance with approved accounting standards.

4.   Critics say the new accounting standard will unnecessarily create scary, volatile numbers in quarterly earnings reports.

5.   Harmonising international accounting standards is more important than one might think.

6.   The paper also proposed that an accounting standard restrict the uses of the share premium account.

7.   This is the first time that accounting standards have had even this amount of statutory backing.

8.   Will the Supreme Court arbitrate accounting standards?

9.   Applicable accounting standards have been followed.

10.   The Accounts have been prepared in accordance with applicable accounting standards and under the historical cost accounting rules supplemented by revaluation of certain properties.