How GA AP are being developed or established here in the Philippines?

Question

i need a more specific way of
establishing accounting principles
by the authoritative bodies of accounting profession

Answer 1

general accounting and accounting principles are standard worldwide.

in the philippines, all government offices are required to adopt guidelines as set forth by the new government accounting system(ngas).

the old manual was laid down in the government accounting and auditing manual(gaam).

same accounting principles with difference in presentation and account names.

Answer 2

It takes worldwide scandals in the accounting practices to upgrade accounting principles that are universally accepted.

Answer 3

Accounting, oh, simple, debit, credit and "kupit."