Parallel Accounting is a Key Tool for Global Companies with Multiple Reporting Requirements
Bramasol
JUNE 10, 2022
For example, a company with branches doing business in the United States and the European Union will need to comply with both GAAP and IFRS accounting principles. The account-based approach uses account logic identifiers to assign accounting principles, such as using unique prefixes to determine which accounts use IFRS vs GAAP principles.
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