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Generally accepted accounting principles assignment help means that it should be in firm adherence to the Accounting standards and principles, without any compromises. It should be researched in a well manner, original and analyzed in a best possible way. We keep in mind all your needs and also make sure you get the best price possible as this is a student service facility.
Generally accepted accounting principles
Generally Accepted Accounting Principles (GAAP in short) is the name given to the outline of Accounting Standards & Interpretations promulgated by/in FASB, APB and ARB in the USA. However other countries may have different accounting standard body like-
Australia – Australian Accounting Standards Board
UK – UK Accounting Standards Board etc.
GAAP Standards are mandatorily followed in all Public and Private Limited Companies. Any Company needing to raise money from the Public or Banks/Governmental Bodies must prepare and present their Accounts per GAAP. GAAPS Standards (issued primarily by FASB) are issued on specific Accounting topics, and in general cover, inter-alia, topic definitions, accounting treatments, and disclosure requirements.
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GAAP offers better financial information and is useful for an organization or government in following ways:
* Business must provide financial information in a way that lenders, investors, and other useful client find it credible and useful.
* Accounting and financial reporting helps to compare which results in a better financial decision. Investors and lenders can make a wiser decision about where to invest their money.
* Government can demonstrate their stewardship about their resources to citizens and bond holders helping them to take wise decision for themselves
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