Examlex
Identify and state the historical significance of the following:
-Fort Necessity
FASB
The Financial Accounting Standards Board, an organization responsible for establishing and improving financial accounting standards in the U.S.
IASB
Stands for the International Accounting Standards Board, which is an independent, private-sector body that develops and approves International Financial Reporting Standards (IFRSs).
Gross Method
An accounting practice where purchases are recorded at their gross price without deducting any cash discounts at the time of purchase.
Perpetual Inventory System
An accounting technique that utilizes computerized point-of-sale systems and enterprise asset management software to immediately record inventory transactions upon sale or purchase.
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