​In Most Countries and Business Environments, Sustainability Reporting Must Adhere

question 44

True/False

​In most countries and business environments, sustainability reporting must adhere to generally accepted accounting principles.

---

Definitions:

IFRS Rules

The set of international accounting standards issued by the International Accounting Standards Board (IASB) that dictate how particular types of transactions and other events should be reported in financial statements.

U.S.GAAP

The Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures used to compile financial statements.

Forecasted Cash Flow

An estimate of the amount of cash a company will receive and spend over a future period, typically used for budgeting and planning purposes.

GAAP

Generally Accepted Accounting Principles are a standardized collection of accounting norms, standards, and methods that organizations are required to adhere to when preparing their financial reports.