What are the standards of accounting?

Question

Soliman Abd ALmalak Gendy · Answer

GAAP refers to a set of rules,standards and practices used in the accounting field for preparing and standardlizing  financial statements.

Mohammed El Tahir Mohammed Yousif · Answer

Accounting standards are authoritative standards for financial reporting and are the primary source of generally accepted accounting principles (GAAP). Accounting standards specify how transactions and other events are to be recognized, measured, presented and disclosed in financial statements.

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What are the standards of accounting?

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