Examlex
All of the following are external users of accounting information except:
GAAP
Generally Accepted Accounting Principles, which are a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements.
IFRS
International Financial Reporting Standards, a set of accounting standards providing a global framework for how public companies prepare financial statements.
Ownership Of Goods
The legal right or title to possess and use goods, typically transferring from seller to buyer upon payment.
Specific Identification
An inventory valuation method that tracks the cost of individual items or batches of items throughout the purchasing and sales process.
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