FAZ

FAZ, short for Financial Accounting Standards, refers to the established rules and guidelines that companies follow when preparing their financial statements. These standards ensure consistency, accuracy, and transparency, making it easier for investors, regulators, and other stakeholders to understand a company's financial health. Different countries have their own FAZ, such as GAAP in the U.S. or IFRS internationally. Adhering to these standards helps prevent misrepresentation and supports fair comparisons across companies and industries. Overall, FAZ provide a trustworthy framework for financial reporting that promotes transparency and accountability in business.