GAAP is a standard that records required to comply. A frequently used definition is taken from the legislative history of the Swedish Accounting: “an actual business practice of a qualitatively representative circuit records required.” What is the generally accepted accounting principles may vary between different industries and depending on their size. Management can be found in laws that Act and Bookkeeping […]
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FAR SRS
Rules for accounting
The basis of all accounting is that it should be in accordance with generally accepted accounting principles. This means that based on the laws that apply the accounting standards issued by the standard setting organizations that exist in the accounting field.
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FAR SRS
Auditor industry association FAR SRS, and earlier predecessor of Authorized Public Accountants (FAR), has a redovisningskommité who appeared with accounting standards. Since the Standards Council added the FAR and FAR SRS mainly constituted referral body for accounting issues and not published its own recommendations.
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