Reviewed by David Kindness Fact checked by Suzanne Kvilhaug There are differences between how the U.S. Generally Accepted ...

Barter exchange takes place when an individual or a business entity provides a good or service and receives a good or service in return rather than receiving cash or another monetary instrument.

Accounting principles are guidelines companies must follow when recording and reporting accounting transactions. GAAP and IFRS are the two major standards used worldwide. Accounting principles are ...