Generally accepted accounting principles (gaap), Financial Accounting

Generally Accepted Accounting Principles (GAAP) are guidelines for companies to follow as tehy prepare and issue financial statements. Let's start by getting an understanding of why the guidelines were developed in the first place? Who relies on the financial statements (external users)? What happens if an external user relies on financial statements that are inaccurate? What negative consequences can arise from relying an inaccurate financial statements?

Posted Date: 2/18/2014 12:26:02 AM | Location : United States

Related Discussions:- Generally accepted accounting principles (gaap), Assignment Help, Ask Question on Generally accepted accounting principles (gaap), Get Answer, Expert's Help, Generally accepted accounting principles (gaap) Discussions

Write discussion on Generally accepted accounting principles (gaap)
Your posts are moderated
Related Questions

Arnot International's bonds have a present market price of $1,250. The bonds have an 11% annual coupon payment, a $1,000 face value, and 10 years left until maturity. The bonds may

discuss the content of financial statement with reference to Indian companies?

I am needing homework help on my Principles to Accounting 1, but don''t know how much you guys charge

Trustee's duties in administering the D of A 1) To carry out the trusts of the D of A and to distribute the property assigned to him in accordance with the provisions of the D of

Completed executions A judgement creditor cannot retain the "benefit" of an execution or attachment, unless he has completed it- Before the date of the receiving order,

Question 1 Explain the five accounting concepts with an example Separate entity concept Going concern concept Money measurement concept Cost concept Dual aspect

Does a state have the authority to require a U.S.-based multinational corporation to compute its state taxable income on a worldwide combined reporting basis? What about a foreign-

You are considering whether to replace an existing flow meter in an ongoing operation. A change in the meter will have not affect revenues but will reduce costs. The existing meter

Ask question #Minimum 10010 qestions words accepted#