Examlex
In order to ensure that computers developed by different manufacturers can communicate, _____ have been developed.
GAAP
Generally Accepted Accounting Principles; a set of accounting standards, principles, and procedures that companies must follow when compiling their financial statements in the U.S.
Balance Sheet
A financial report that captures a company's financial status at a particular moment, detailing its assets, liabilities, and shareholders' equity.
IFRS
International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide the preparation and presentation of financial statements on a global scale.
GAAP Format
The presentation of financial statements in accordance with Generally Accepted Accounting Principles, ensuring consistency and comparability.
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