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Development of Accounting Standards (graded)
Hello Class, Welcome to week 1 Discussion Topic 1.
Hello Class, Welcome to week 1 Discussion Topic 1.
Generally Accepted Accounting Principles (GAAP) are guidelines for
companies to follow as they prepare and issue financial statements.
Let’s start by getting an understanding of why the guidelines were
developed in the first place?
a) Who relies on the financial statements (external users) and
why, what are they using the statements for?
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