Differentiate Between Hard Technology and Soft Technology

question 68

Essay

Differentiate between hard technology and soft technology.

---

Definitions:

GAAP

GAAP stands for Generally Accepted Accounting Principles, which are standardized guidelines and practices for financial accounting and reporting in the U.S.

IFRS

International Financial Reporting Standards, a set of accounting guidelines that provide a global framework for businesses to prepare and disclose their financial statements.

Rules-based

Refers to systems or processes that are governed by a strict set of predefined rules or laws.

Cash Defined

The total amount of money, in the form of bills or coins, available for use; often considered the most liquid form of assets.