Briefly explain generally accepted accounting principles (GAAP) and describe why it is important that public companies follow
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Question:
Briefly explain generally accepted accounting principles (GAAP) and describe why it is important that public companies follow GAAP when preparing financial statements.
In addition, give your opinion on whether private companies should be required to follow GAAP. Provide a rationale for your opinion.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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