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Accounting -- Standards

View Resource The Importance of Generally Accepted Accounting Principles (GAAP)

Financial reporting, in the form of balance sheets, profit and loss statements, financial notes, and disclosures, is an essential means of communicating information about the financial condition of a company or other organization. Generally Accepted Accounting Principles (GAAP), in turn, are the guidelines that help accountants with that communication. This site, from the Financial Accounting...