Wages & salaries

Accounting standards of the IFRS and FASB

Accounting standards are used as a way to unify annual and consolidated financial statements. The standards make statements both more meaningful and easily comparable. Accounting principles exist at both the national and international level. But which standards should be observed? We provide you with an overview of the objectives and functions of commercial accounting, as well as the specific principles laid out by the UK GAAP at the national level and the IFRS at the international level. [...]