The ________________________________ Is a System of Performance Measures,including Nonfinancial Measures,used

question 64

Short Answer

The ________________________________ is a system of performance measures,including nonfinancial measures,used to assess company and division manager performance.

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Definitions:

U.S. Standards

This can refer to various official norms and regulations established by organizations and government agencies in the United States spanning different industries and areas such as accounting, safety, and quality.

GAAP

Generally Accepted Accounting Principles; these are the standard set of accounting rules, standards, and procedures that companies use to compile their financial statements in the United States.

IFRS

International Financial Reporting Standards, a set of accounting guidelines that govern how financial statements should be reported around the world.

Auditing

The examination of financial statements by a certified public accountant in order to express an opinion as to the fairness of presentation.