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Gaap and Ifrs

GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards) are two distinct frameworks for financial reporting. GAAP, primarily used in the United States, provides specific guidelines for financial transactions and emphasizes consistency within industries. IFRS, used internationally, focuses on principles that promote transparency and comparability across countries, allowing for more flexibility in reporting. Both frameworks aim to ensure accuracy and

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mohdasif2004s
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7 views

Gaap and Ifrs

GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards) are two distinct frameworks for financial reporting. GAAP, primarily used in the United States, provides specific guidelines for financial transactions and emphasizes consistency within industries. IFRS, used internationally, focuses on principles that promote transparency and comparability across countries, allowing for more flexibility in reporting. Both frameworks aim to ensure accuracy and

Uploaded by

mohdasif2004s
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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