Generally Accepted Accounting Principles

What represents the results of the accounting process that are summarized in periodic reports?

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Accounting Why do we call accounting “the language of business”? What does Generally Accepted Accounting Principles (GAAP) mean? What represents the results of the accounting process that are summarized in periodic reports? If you were a business owner, what would be your choice of business entity?

Generally Accepted Accounting Principles and International Financial Reporting Standards: how do the two systems differ? How are they similar?do you think that GAAP and IFRS should converge?explain.

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Generally Accepted Accounting Principles and International Financial Reporting Standards. Currently, the two major sets of rules related to accounting are Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). How do the two systems differ? How are they similar? Do you think that GAAP and IFRS should converge? Explain. Your initial post should … Read more