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Discussion: Week 1 – Generally Accepted Accounting Principles (GAAP)
Discussion: Week 1 – Generally Accepted Accounting Principles (GAAP)
A friend of yours sent an e-mail asking about the generally accepted accounting principles (GAAP). It seems she was browsing through a recent annual report and saw an auditor opinion saying that the financial statements were prepared in conformity with accounting principles generally accepted in the United States of America. She asks you what the generally accepted accounting principles are. Click on the three dots to the right of the discussion to review the rubric.