How does financial accounting have an impact on society

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Question: 1. In addition to financial statements, what are some other ways to disclose financial information to external users?

2. How does financial accounting have an impact on society?

3. What is meant by GAAP? Why should companies follow GAAP in reporting to external users?

4. Which body is primarily responsible for the establishment of GAAP in the United States? What body serves this function on an international basis?

Reference no: EM131519158

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