What are generally accepted accounting principles

Assignment Help Accounting Basics

Reference no: EM13761936

1. What are Generally Accepted Accounting Principles (GAAP)? How does GAAP affect financial reporting? How might GAAP need to change to accommodate today's dynamic business environment.

2. What is the FASB Codification System? What is the purpose of the FASB Codification System? How can it be used to make better accounting decisions?

3. "Proponents of critical perspectives research believe that mainstream accounting research relies on assumptions that considered in a vacuum which does not mirror reality." What do you think about this statement?

Reference no: EM13761936

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