Best Practice in Accounting

Best Practices in Philippine Accounting_

21 Mar: Best Practices in Philippine Accounting

Companies doing business in the Philippines must comply with the Philippine Financial Reporting Standards (PFRS). The PFRS is a set of Generally Accepted Accounting Principles (GAAP) issued by the Accounting Standards Council (ASC) to govern the preparation of financial statements. These standards aim to promote fairness, transparency, and accuracy in financial reporting.