The general rules of debit and credit, and the steps in the recording process-the journal, ledger, and chart of accounts-are the same under both GAAP and IFRS.

Name: The general rules of debit and credit, and the steps in the recording process-the journal, ledger, and chart of accounts-are the same under both GAAP and IFRS.
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The general rules of debit and credit, as well as the recording process using journal, ledger, and chart of accounts, are the same under both GAAP and IFRS.

The General Rules of Debit and Credit, and the Steps