accounting standard

US /əˈkaʊntɪŋ ˈstæn.dərd/
UK /əˈkaʊntɪŋ ˈstæn.dərd/
"accounting standard" picture
1.

a set of rules and guidelines used for financial reporting to ensure consistency and comparability of financial statements

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Companies must comply with international accounting standards when preparing their financial reports.
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The new accounting standard aims to improve transparency in financial reporting.
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accounting principlefinancial reporting standardGAAPIFRS
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standardaccountaccountingaccountabilityaccountantaccountableaccount for