Page 32 - PowerPoint Template
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Generally Accepted Accounting Principles
Objective :
- This is an ongoing process, accounting principles
change to reflect changes in the business
environment.
- The different opinions between the Accountants can
be solved by referring this Recognized set of
Standards is called Generally Accepted Accounting
Principles (GAAP)
- It covers convention, concept, regulations, procedure
and the guidelines standards.
- The report must be recorded in the Financial
Statements and it must be completed and easy to
understand in order to make a comparison.
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