News1 min ago
Generally accepted accounting principles
1 Answers
Why does GAAP exist?
Answers
Only 1 answer
Best Answer
No best answer has yet been selected by DBusby. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
Because otherwise each Accountant might choose their own way of preparing accounts, especially as regards tricky items of income, expenditure, capital etc. It would then not only be difficult to assess the actual viability and performance of individual commercial enterprises, but practically impossible to compare the financial standing and performance of different enterprises.
Only 1 answer
