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![[Update] Hong Kong Accounting Standards](http://smebrother.com/cdn/shop/articles/Hong_Kong_Accounting_Standards_2000x.jpg?v=1721717241)
hk accounting standard
[Update] Hong Kong Accounting Standards
Hong Kong accounting standards are regularly updated to reflect global best practices and local business needs, governed by the Hong Kong Institute of Certified Public Accountants (HKICPA). The Hong Kong Financial Reporting Standard (HKFRS), aligned with the International Financial Reporting Standards (IFRS), is a comprehensive set of guidelines that outline the requirements for financial reporting, including the presentation of financial statements, inventory accounting, and revenue recognition.