GAAP's Definition for Inventory and Provision of Guidelines for Inventory $\quad$

question 23

Short Answer

GAAP's definition for inventory and provision of guidelines for inventory accounting, as compared to IFRS are: $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Guideliness for
Definitions for Inventory $\quad$ inventory accounting
a. essentially similar $\quad$$\quad$$\quad$ more detailed
b. essentially different $\quad$$\quad$ more detailed
c. essentially similar $\quad$$\quad$$\quad$ less detailed
d. essentially different $\quad$$\quad$ less detailed

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Definitions:

Unbilled Consulting Revenue

Unbilled consulting revenue refers to earnings from consulting services that have been delivered but not yet invoiced to the client.

Depreciation

The process of methodically dividing the expense of a physical asset over its estimated useful life.

Prepaid Services

Expenses paid in advance for services which will be received in the future.

Unearned Fees

Income received by a company for services yet to be provided or completed; recognized as a liability until the service is performed.