Financial Accounting

Financial Accounting

Answer 1

GAAP stands for “Generally Accepted Accounting Principles.”

Answer 2

There is no such thing as international GAAP. Most of the countries have their own GAAP.

Answer 3

There is no such thing as international GAAP. Most of the countries have their own GAAP.

Answer 4

No

Answer 5

IFRS is issued by International Accounting Standards Board (IASB). This body is headquartered in London UK.

Answer 6

UK FRS is issued by UK Accounting Standards Board.

Answer 7

US FAS is issued by FASB (Financial Accounting Standards Board).

Answer 8

Private Limited

Answer 9

Private Limited Companies

Answer 10

£5.6 million or less

Answer 11

SOX

Answer 12

SOX stands for “Sarbanes-Oxley Act.” The Sarbanes Oxley Act, passed by ...