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.

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KOBO is a currency of Nigeria.

PAY CYCLE is a set of rules that defines the criteria by which scheduled payments are selected for payment creation, e.g., payroll may be on a weekly, bi-weekly, or monthly pay cycle.

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