not-for-profit, public interest organizations established to develop a single set of high-quality, understandable, enforceable and globally accepted accounting standards

the humanly devised rules, procedures and norms to judge one’s action
as right or wrong, honest or dishonest and fair or not fair

the possibility of making a mistake in classifying or measurement of financial transactions

a set of principles and rules that companies follow when they prepare and publish their financial statements

a common set of standards used by accountants in United States.