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Instead of defining specific rules for the accounting of software development costs, the IASC adopted a more general statement that provided guidelines for the accounting for all intangible assets. none of these 5. 1 The first IAS was published in 1975 by the International Accounting Standards Committee (IASC), which was formed in 1973. We provide all important questions and answers from chapter Accounting. Croner-i are publishers of books, manuals, electronic publications and subscription products in the key areas of accountancy, audit, taxation, financial reporting and business. All explanation and answers are based on user submitted comments and opinion. 72 KB) Amendments to Rule 152 of General Financial. Senior Auditor, Junior Auditor, Accountant. Accounting standard AS 1 is applicable to corporate and Non-corporate Entities. 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