Coding Standards are a set of guidelines for creating program source code of a certain application, framework or other software development project. They define the programming style, practices and methods for the source code.
Coding standards usually cover file organization, indentation, source code comments, declarations, statements, usage of white spaces, naming conventions, and general programming practices.
There is nothing worse than inheriting an application or needing to make changes to code that requires a lot of time and energy to decipher, or that doesn't make its purpose or intentions clear.
Coding standards make sure that a software is coded and annotated in a consistent common style.
By following these standards, software engineers improve the readability of their source code. Instead of each developer coding in their own preferred style, they will write all code to the guidelines outlined in the coding standards.
Not only does it make the source code easier to understand, it also ensures that any developer who looks at the code will know what to expect throughout the entire application. This makes code reviews, bug fixing, later maintenance and extension of the code easier and less time consuming.