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This is decided by the regulatory body of that developing country if they adopt IFRS then you have to follow otherwise Generally accepted accounting princiles issued by that body will be followed.
Yes. But usually an adjustment is required when accounting treatment of any specific transaction differs from rules and regulations applicable to particular country. But to raise standard of accounting in developing countries and to be in line with the concept of global market and etc accountant can and accountants should, in fact, apply IRFS in developing countries.
NOT IN ALL
