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What are the two main financial reporting standards currently being used by companies? Do all companies...

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Finance

What are the two main financial reporting standards currentlybeing used by companies? Do all companies have to use thesefinancial reporting standards?

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The two main financial reporting standards currently being used by companies in the USA are Generally Accepted Accounting PrinciplesGAAP or US GAAP framed published by the Financial Accounting Standards BoardFASB of the USA and the International Financial Reporting Standards IFRSframed published by the International Accounting    See Answer
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