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Accounting is divided into two main branches: financial accounting and management accounting. Financial accounting focuses on the preparation and presentation of financial statements for external users, while management accounting provides information for internal decision-making and performance evaluation. In financial accounting, Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) provide the guidelines for recording and reporting financial transactions. These principles ensure consistency, comparability, and transparency in financial reporting across different entities and jurisdictions. Key principles of accounting include the accrual principle, which recognizes revenue and expenses when they are earned or incurred, regardless of cash flows. The matching principle ensures that expenses are matched with revenues in the appropriate accounting period. The consistency principle promotes the use of consistent accounting methods and practices from period to period. | |
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Target State: US Virgin Isles Target City : Nes York Last Update : Jun 14, 2023 4:58 AM Number of Views: 98 | Item Owner : Mark Contact Email: Contact Phone: +18443977462 |
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