Examlex
The move toward a product family perspective requires:
Principles-based
An approach that bases decisions on general principles or values rather than specific rules.
IFRS
International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board that are becoming the global standard for the preparation of public company financial statements.
GAAP
Generally Accepted Accounting Principles; a collection of commonly-followed accounting rules and standards for financial reporting.
Accounting For Inventories
The process of tracking and managing the goods a company holds for the purpose of sale or production, including valuation and cost determination.
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