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This app contains thousands of real exam questions for selflearning & exam preparation on the topic of FinancialAccounting, IFRS & GAAP. With our Advanced Smart LearningTechnology, you can master the learning materials quickly bystudying, practicing and playing at lunch, between classes or whilewaiting in line. Financial Accounting Exam prep uses proven studyand test-taking strategies so that you’ll feel confident and readyto go when you have to take the Financial Accounting Exam. MainFeatures: +) Learning materials are prepared by EXPERTS in thisfield for the most current exam. +) Experience the real examenvironment by the EXAM SIMULATOR. +) Automatically FILTER yourmost difficult questions. +) Learn more efficiently by PLAYINGgames with time constraint. +) TRACK your progress on every smallset you've studied. Financial accounting (or financial accountancy)is the field of accounting concerned with the summary, analysis andreporting of financial transactions pertaining to a business. Thisinvolves the preparation of financial statements available forpublic consumption. Stockholders, suppliers, banks, employees,government agencies, business owners, and other stakeholders areexamples of people interested in receiving such information fordecision making purposes. Financial accountancy is governed by bothlocal and international accounting standards. Generally AcceptedAccounting Principles (GAAP) is the standard framework ofguidelines for financial accounting used in any given jurisdiction.It includes the standards, conventions and rules that accountantsfollow in recording and summarizing and in the preparation offinancial statements. On the other hand, International FinancialReporting Standards (IFRS) is a set of international accountingstandards stating how particular types of transactions and otherevents should be reported in financial statements. IFRS are issuedby the International Accounting Standards Board (IASB). With IFRSbecoming more widespread on the international scene, consistency infinancial reporting has become more prevalent between globalorganizations. While financial accounting is used to prepareaccounting information for people outside the organization or notinvolved in the day-to-day running of the company, managementaccounting provides accounting information to help managers makedecisions to manage the business. International Financial ReportingStandards (IFRS) are designed as a common global language forbusiness affairs so that company accounts are understandable andcomparable across international boundaries. InternationalAccounting Standards (IAS), while standards issued by IASB arecalled IFRS. IAS were issued between 1973 and 2001 by the Board ofthe International Accounting Standards Committee (IASC).Disclaimer: The publisher of this app is not affiliated with orendorsed by any testing organization. All organizational and testnames are trademarks of their respective owners.