After two years of negotiations, central securities depositories (CSDs) have now been asked to sign – by June 2012 at the latest – a binding legal contract to participate in T2S. This will mark a key milestone in the project.
Therefore, there is an imperative need for evolving appropriate accounting policies and accounting standards to deal with these questions. Importance of accounting standards Accounting as a “Language of Business” communicates the financial results and health of an enterprise to various interested parties by means of periodical financial statements.