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International Financial Reporting Standards
A set of accounting standards set by the International Accounting Standards Board and required for use throughout Europe and parts of Asia, Africa and Latin America. Other countries have committed to adopt or converge toward these standards, and the United States permits non-US companies to report under them, although US companies use the Generally Accepted Accounting Priciples.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
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