comply with accounting standards

What are the Major Accounting Standards?

There are several key accounting standards that businesses may need to comply with, depending on their location and industry. The most prominent include:
IFRS (International Financial Reporting Standards): Used by over 140 countries, IFRS provides a global framework for financial reporting.
GAAP (Generally Accepted Accounting Principles): Predominantly used in the United States, GAAP encompasses a broad set of accounting standards and principles.
IAS (International Accounting Standards): These are older standards that have been replaced or updated by IFRS but are still relevant in certain contexts.

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