Biocon Limited Financial Analyst Interview Questions and Answers

Logical reasoning, apttitude

Q1. Explain difference between GAAP and IFRS
Ans. 
GAAP and IFRS are accounting standards used to prepare financial statements, with GAAP being primarily used in the US and IFRS being used internationally.
• GAAP (Generally Accepted Accounting Principles) is used primarily in the United States, while IFRS (International Financial Reporting Standards) is used in many other countries.

• GAAP is more rules-based, with specific guidelines for different industries, while IFRS is ...read more
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