Conceptual Framework
Ebenezer Adade (9 Points)
12 September 2020
Can anyone explain Conceptual Framework and GAAP to me?
Ebenezer Adade (9 Points)
12 September 2020
YASASWI GOMES
(49 Points)
Replied 12 September 2020
Conceptual Framework is a set of principles used to prepare financial statements.
GAAP is a set of rules used to prepare financial statements.
Conceptual Framework is used by IFRS in EU and Asia.
GAAP is used in US.
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