156k views
4 votes
What type of accounting is more rules-based?

1 Answer

2 votes

GAAP

Step-by-step explanation:

That would be the Generally Accepted Accounting Principles (GAAP) system which is rules based.

Alternatively:

The International Financial Reporting Standards. (IFRS) on the otherhand would be the one thats principles based.

User Madhusudhan
by
8.2k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.