” Why are accounting standards needed for financial reporting and what characteristics are associated with high quality accounting standards? “

Write An essay addressing the above question, the essay must include the following:

– Introduction

– Meaning & History of Accounting Standards

– Needs of Accounting Standards

– Characteristics of Accounting Standards.

– Characteristics for Accounting & Accounting Standards

– Conclusion

** Use multiple research articles, textbooks, etc.

** Suitable references using Harvard Style.

** Maximum 1000 words.