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Financial Accounting
How is the term provision used differently under IFRS than under U.S. GAAP?
Compare the use of term ‘provision’ used in GAAP and in IFRS.
Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary to create accounting principles for the implementation of financial information reporting in the Country U.
International Financial Reporting Standards (IFRS): IFRS are a set of international accounting standards which are framed, approved, and published by Intern...
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