Solution-Describe the generally accepted accounting

Describe the generally accepted accounting principles

Reference no: EM133205674

1. Describe the Generally Accepted Accounting Principles (GAAP). What is its main function or purpose?

2. What is the purpose of the International Financial Reporting Standards (IFRS)? Give possible reasons why IFRS is needed.

3. What is the difference between the IFRS and the PFRS?

4. Describe the process of developing accounting standards in the Philippines.

Reference no: EM133205674

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Describe the generally accepted accounting principles

Reference no: EM133205674

Reference no: EM133205674

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