CFA Level-I Financial Reporting Analysis FinQuiz

CFA Level-I Financial Reporting Analysis READING 31: Financial Reporting STANDARDS. FRAMEWORK. GAAP ifrs Similarities Purpose of The FASB framework resides Management is explicitly Both the frameworks are similar Framework lower in hierarchy. required to prioritize the IASB in their purpose to assist in Management is not required to framework if there is no developing and assisting prioritize it if no standard is standard or interpretation standards. available. available. Objectives of It provides different objectives It gives one objective for Both frameworks have a broad Financial for business entities versus non different business entities.

CFA Level-I Financial Reporting Analysis FinQuiz.com 1 READING 31: FINANCIAL REPORTING STANDARDS FRAMEWORK U.S. GAAP IFRS Similarities Purpose of

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