Accounting is facilitated by accoun

Accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies. Financial statements are usually audited by accounting firms,[9] and are prepared in accordance with generally accepted accounting principles (GAAP).[7] GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States[1] and the Financial Reporting Council in the United Kingdom. As of 2012, "all major economies" have plans to converge towards or adopt the International Financial Reporting Standards (IFRS).[

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Accounting is facilitated by accounting organizations such as standard-setters accounting firms, and professional bodies.? Financial statements are usually audited by accounting firms, [] and 9 are prepared in accordance with generally accepted. Accounting principles (GAAP).