Why do most companies adhere to GAAP for their basic internal financial statements?\ GAAP is required by law for publicly held companies.\ To use GAAP and another system of reporting would be too costly for most companies.\ Accountants are required by their code of ethics to use GAAP accounting.\ Accrual accounting provides a uniform method to measure an organization's financial performance

Why do most companies adhere to GAAP for their basic internal financial statements? GAAP is required by law for publicly held companies. To use GAAP and another system of reporting would be too costly for most companies. Accountants are required by their code of ethics to use GAAP accounting. Accrual accounting provides a uniform method to measure an organization's financial performan