Accounting Policy Selection

Accounting Framework & Policy Selection
Accounting policies set the framework that will provide the foundation of your organization's reporting structure and financial statements.
Financial Reporting Framework Development
Selection of policies
For Transactions, Events & Conditions

1
Mandatory Accounting Policy
Must apply proposed policy per guidance
GAAP
IFRS
2
Alternative Accounting Policy
Must be applied consistently if chosen
3
No Accounting Policy Proposed
Use judgement and develop appropriate policy

Accounting Framework & Policy Selection