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What is Legal Accounting Requirements in Business about?

This document describes the legal requirements for accounting in a business. It explains that all profit-making, non-profit, and governmental institutions are required to maintain accounting records. It also identifies three main laws that govern and regulate accounting in Mexico: the General Law of Companies, the Income Tax Law, and the Value Added Tax Law. Additionally, it defines three branches of accounting: financial accounting, cost accounting, and governmental accounting.

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