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Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required. Some important elements that accounting standards cover include identifying the exact entity which is reporting, discussing any "going concern" questions, specifying ...
The FASB Accounting Standards Codification ® is the single official source of authoritative, nongovernmental U.S. generally accepted accounting principles (GAAP).
An accounting standard is a set of practices and policies used to systematize bookkeeping and other accounting functions across firms and over time. Accounting standards apply to the full...
Accounting standards provide guidance for companies to prepare and report useful financial statements in an accurate fashion. The U.S. Generally Accepted Accounting Principles (GAAP) is the bedrock of accounting standards, which now differ by country.
The accounting standards developed and established by the FAF’s standard-setting boards—the Financial Accounting Standards Board and the Governmental Accounting Standards Board—are the rules that determine how that language is written.
International Accounting Standards (IASs) were issued by the antecedent International Accounting Standards Council (IASC), and endorsed and amended by the International Accounting Standards Board (IASB). The IASB will also reissue standards in this series where it considers it appropriate.
Links to summaries, analysis, history and resources for IFRS Sustainability Disclosure Standards (IFRS SDS), International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS), IFRIC Interpretations, SIC Interpretations and other pronouncements issued by the International Accounting Standards Board (IASB) and its ...
IFRS Accounting Standards are, in effect, a global accounting language—companies in more than 140 jurisdictions are required to use them when reporting on their financial health. The IASB is supported by technical staff and a range of advisory bodies.
Latest IFRS Accounting products. The IFRS Accounting Standards—Issued Annotated 1 January 2024. This is the official edition of the authoritative pronouncements of the International Accounting Standards Board issued at 31 December 2023.
Accounting standards are implemented to improve the quality of financial information reported by companies. In the United States, the Financial Accounting Standards Board (FASB) issues...