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Generally Accepted Accounting Principles (GAAP) Generally Accepted Accounting Principles (GAAP) encompass a set of rules and standards that govern the preparation of financial statements in a manner that is clear, consistent, and comparable across…
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Financial Accounting Standards Board (FASB) The Financial Accounting Standards Board (FASB) plays a crucial role in the realm of financial accounting and reporting. Established in 1973, FASB was created to establish and improve generally accepted…
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International Financial Reporting Standards or IFRS Standards International Financial Reporting Standards (IFRS) represent a set of guidelines and principles for financial reporting that is designed to ensure consistency, transparency, and comparability…
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