What do you mean by Nepal Accounting Standard (NAS) & Nepal Financial Reporting Standard (NFRS) ?
1. Nepal Accounting Standard (NAS): NAS refers to a set of accounting principles and guidelines that provide a standardized framework for recording, presenting, and disclosing financial transactions and events in Nepal. These standards are based on International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), with necessary modifications and adaptations to suit the Nepalese context. NAS aims to enhance the transparency, comparability, and...