Contents tagged with GAAP

  • Two sets of principles in Accountancy

    There are two main standartizers of Accountancy:

    IFRS

    US GAAP

    IFRS stands for Inernational Financial Reporting Principles. IFRS is set in London by International Accounting Standards Board IASB.

    US GAAP - United States Generally Accepted Accounting Principles. US GAAP is set by Financial Accounting Standards Board.

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