Assignment: GAAP in Accounting
No Due Date
a file upload
Write a 1-2 page paper that addresses the following questions:
- How does GAAP standardize accounting records across companies?
- Why are private businesses not required to follow GAAP?
- Which issues may have occurred before rules for accounting documentation were standardized?
- Who maintains GAAP rules? Why is this separate from the responsibilities of government?
- What is the difference between preparing reports without GAAP?
- What are some issues that GAAP does not address?
Submit the following documents by the due date. Be sure to follow these requirements in your work:
- Type your assignment in an MS Word document (.doc or .docx).
- Do not copy word for word from the textbook or any websites you visit.
- Times New Roman, 12pt Font, double spaced