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Common Accounting Mistakes: Government Edition - Issue #11 What is GAAP?

SMBAccountant

Many small business government contractors are exempt from complying with cost accounting standards (CAS) and defined by the code of federal regulations (CFR). However, compliance with generally accepted accounting principles (GAAP) is required. What exactly is GAAP?

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An Essential Guide to Accounting and Basic Accounting Principles for Beginners

Snyder

What are basic accounting principles? What is accounting software? Basic accounting and its secrets. The Fantastic Four of accounting. Accounting principles: Why are they so important for any business? Basic accounting principles. Accrual principle. Contents: 1.

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How to navigate accounting assumptions

ThomsonReuters

Therefore, when serving business clients, it is important that accounting professionals have the right framework to ensure that proper financial reporting procedures are in place to help with accounting assumptions. What are the main accounting assumptions? Any entity (i.e.,

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Jeanne Dee Appointed to FASB Not-for-Profit Advisory Committee

Anders CPA

Jeanne Dee, CPA/CGMA, audit and assurance partner at Anders CPAs + Advisors (Anders), has been appointed to the Financial Accounting Standards Board (FASB) Not-for-Profit Advisory Committee (NAC) effective January 1, 2024. I’m excited to get started!

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Why Should Skagit County Businesses Care About FASB and GAAP?

SkagitCountyTaxServices

If the last 20 years of the economy’s highs and lows, downturns and headlines taught us anything about business, it’s that complete and transparent accounting is in everyone’s best interest. One independent organization working to keep companies’ books clear and honest is the Financial Accountant Standards Board.

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GAAP: What It Is and Why Your Investors Expect It

inDinero Accounting

Accrual Accounting is a vital component of Generally Accepted Accounting Principles (GAAP). Understanding the principles of GAAP accrual accounting can be challenging and daunting; however, with the right guidance, it can be achieved. What are Generally Accepted Accounting Principles (GAAP)?

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FASB Approves New Accounting Rules for Joint Ventures

CPA Practice

The Financial Accounting Standards Board (FASB) issued a new standard on Wednesday that addresses the accounting for contributions made to a joint venture, upon formation, in a joint venture’s separate financial statements. A government may also be a member of the group.

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