Activ In order for a company to distribute its financial statements to the public, it is required to follow the "generally accepted accounting principles" (GAAP). GAAP assumptions, and methods. A company generally lists the significant accounting policies as the first note in the financial statements. Review the financial stat Statement Analysis Report. Select two of the significant accounting policies and discuss how each policy impacts the financial reporting for that entity. To par to a peer's discussion post, and identify how the reporting standards are different or similar for the company the peer is reporting.