Understanding International Accounting Standards
As a manager, it is useful to learn about the basics of accounting standards, as you progress through your career in management. Accounting Standards differ between countries and these differences can be significant. However, there is growing alignment of standards internationally, under GAAP and the IFRS.
GAAP is asset of standards originating in the US, but also understood and applied in some form or other worldwide. GAAP standards are being gradually replaced by the IFRS. India has embraced the IFRS with the India Accounting Standards. As a manager, it is useful to learn about the basics of accounting standards, as you progress through your career in management.
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