APPLICABLE FINANCIAL REPORTING FRAMEWORK Definition

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APPLICABLE FINANCIAL REPORTING FRAMEWORK is the financial reporting framework adopted in the preparation of the financial statements that is acceptable in
view of the nature of the entity and the objective of the financial statements, or that is required by law or regulation.

Learn new Accounting Terms

BIR is Bureau of Internal Revenue, Benefit/Investment Ratio, or Best Incremental Return.

FINANCIAL MANAGEMENT is the process of managing financial resources, including management decisions concerning accounting and financial reporting, forecasting, and budgeting.

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