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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DIRECT PARTICIPATION PROGRAM (DPP) is an investment program enabling investors to directly participate in the cash flow and tax benefits of the partnership invested in by the investor, typically a form of passive investment. Also called a Limited Partnership.

FOREIGN CURRENCY TRANSLATION is the process of restating foreign currency accounts of subsidiaries into the reporting currency of the parent company in order to prepare consolidated financial statements in the native currency of the parent company.

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