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

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Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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Question Posted: Jan 03, 2024 01:03 AM

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

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GAAP stands for Generally Accepted Accounting Principles These principles are a set of guidelines and standards that govern the preparation and presen...View the full answer

Financial Accounting

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