Why is it desirable to have a set of fundamental concepts to be used in developing accounting

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Why is it desirable to have a set of fundamental concepts to be used in developing accounting standards and rules?

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College Accounting Chapters 1-30

ISBN: 978-1259631115

15th edition

Authors: John Price, M. David Haddock, Michael Farina

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Question Posted: Jul 11, 2018 07:30 AM

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Why is it desirable to have a set of fundamental concepts to be used in developing accounting

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Generally accepted accounting principle GAAP are guidelines for preparation and presentation of fina...View the full answer

College Accounting Chapters 1-30

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