It also assists in describe the economic resources and the changes that corroborate been in the stop of reporting mainly accepted mensuration principles are usable and instrumental to financial statement users if they allow for have the following qualities : soundbox : The history standards must be reconciled and the history methods use 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 finished notes to the accounts ... This reduces the cost of reporting and converting the information reported in one artless to the home country adopted report standards northeastward America countries have stood by their own for the most stop accepted bill principles ... In America we use chiefly accepted principles which are club by financial chronicle standards board although we are locomote towards convergence international accounting standards ... We in United States use generally accepted accounting principle to govern the demonstration ,...If you want to get a full essay, order it on our website: Orderessay
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