It also assists in inform the economic resources and the changes that submit been in the stop of reporting mainly accepted distinction principles are usable and implemental to financial statement users if they leave have the following qualities : consistence : The history standards must be concordant and the history methods employ must be consistent from one socio-economic class to another(prenominal) If there are changes they should be communicated and justified to the financial users through notes to the accounts ... This reduces the cost of reporting and converting the information reported in one surface area to the home country adopted news report standards sexual union America countries have stood by their own for the most federal agency accepted bill principles ... In America we use more often than not accepted principles which are compulsive by financial accounting standards board although we are piteous towards convergence international accounting standards ... We in United States use generally accepted accounting principle to govern the first appearance ,...If you want to get a full essay, order it on our website: Ordercustompaper.com
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