Generally accepted accounting principles (gaap), Financial Accounting

Assignment Help:

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?


Related Discussions:- Generally accepted accounting principles (gaap)

Payrol, a private owned business, pay salary to its employees according to ...

a private owned business, pay salary to its employees according to the Ethiopian calendar month to the addis ababa city administration tax authority . Basic salary 3936 ,Normar wor

What is reconnaisance survey, Q. What is Reconnaisance Survey explain? ...

Q. What is Reconnaisance Survey explain? This item should apply to all rough and rapid investigations of an area with a view to determine the technical feasibility and approxim

Net cash provided by operating activities was?, 50. In preparing a company'...

50. In preparing a company's statement of cash flows for the most recent year on the indirect method, the following information is available: 52,000-Net income for the year 18,00

Management and operational control, Management and operational control: Co...

Management and operational control: Cost of goods sold and gross margin analysis, profit as net income analysis, operating expense analysis, contribution analysis and analysis of

explain the concept of materiality, You have recently been promoted to ass...

You have recently been promoted to assistant audit manager in SHAUNA & Co, a firm of Chartered Certified Accountants. Your first assignment in this new role is to supervise the aud

Personal representatives duties-executorship law, Personal representatives ...

Personal representatives duties Personal representation has the following duties; 1) To provide and pay out of the estate of the deceased, the expenses of a reasonable funeral

Consignment, A of Surat consign goods to B of Jaipur to be sold at or abov...

A of Surat consign goods to B of Jaipur to be sold at or above invoice price. B is entiled to get a commission of 8% on sales at invoice price plus 25% of any surplus price reali

Accounts under trustee-trusts laws and accounts, ACCOUNTS UNDER TRUSTEE ...

ACCOUNTS UNDER TRUSTEE (a) Authorised investments The investments which trustees are permitted to hold may be specifically stated in the will or deed constituting the se

Cost recovery deductions, On May 19, 2010, Kim placed in service a LIGHT VA...

On May 19, 2010, Kim placed in service a LIGHT VAN that cost $54,850. It is used 80% for business each year. What is the maximum cost recovery deduction available for the van in 20

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd