Are there any Technology Finance Reporting Standards like GAAP and IFRS which has to be followed while realizing technology expense for Programs and Projects to P&L and Balance Sheet? 

@Kewal Krishna Bhoi I believe that you're asking if TBM has reporting standards similar to those imposed by GAAP or IFRS. If that's it, the answer would be no.

GAAP  and IFRS (Generally Accepted Accounting Principles and International Financial Reporting Standards respectively for anyone that may view this and not know the acronyms) are regulatory standards imposed to create commonality across industries and geographies in accounting and financial reporting. Standardization is for the purposes of reporting to regulators and governing bodies like the SEC or IRS (in the US) such that the content of my balance sheet and P&L should be similar to yours or someone else's because we're all following the same rules with respect to say what is a CapEx project on the balance sheet under Programs and Projects vs. what's on the balance sheet under WIP or PIP and what's on the P&L as project depreciation or non-capitalizeable project costs.

TBM is a management accounting framework and the output from Apptio isn't intended to replace any of the accounting systems you may have in place for financial accounting or reporting. However, with that said, you may choose to organize or otherwise create your Apptio data and reports in such a way that they mirror the organization of your P&L and BS. In example, the chart of accounts you use would be the same CoA in use in your organization. You could create a report that mirrors your financial reporting by showcasing the aggregation of costs in the same way. I've done this for us as a validation tool. If I load a month's financial data I can go to this report to view the costs in the same P&L/BS layout as Finance has provided from Oracle/Essbase; if they're the same Finance can confirm that I've captured their data set appropriately, 

From that point of Financial validation, for me, everything else is management accounting; which is a focus on using accounting/financial reporting for the purpose of making operational decisions. TBM seeks to help you take the same information that you have for the purposes of GAAP/IFRS reporting and tabulate it and categorize it in ways that are meaningful to your organization but for the purpose of understanding how these costs are related to tangible IT or business operations.

Does that help? Or answer your question?

Thanks @Stephanie Geltrude. You explained more than what I was looking for. Having a Report to validate Financial Statements for the firm is really nice use case to have. I also deal with both set of Financial reports (internal and external) and was wondering if Apptio Team can have an OOTB Report for Financial statement validation as a feature.