Internal revenue service (irs), Financial Accounting

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Explain:-

Q.1 Explain the ways in which the needs of internal and external users of accounting information are the same and different.
Q.2 Why is it important for financial statements and other external reports to be based on generally accepted accounting principles
Q.3 Describe the respective roles of the Securities and Exchange Commission (SEC) and the Internal Revenue Service (IRS) in the setting of accounting standards?

 

 


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