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An Essential Guide to Accounting and Basic Accounting Principles for Beginners

Snyder

In short, accounting principles matter…a lot. Accepted accounting principles: Generally Accepted Principles vs International Financial Reporting Standards. Understanding these concepts is essential for anyone who wants to work in finance, be an effective business owner or manage a company. Accrual principle.

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FASB Took It Easy in 2022

Going Concern

While the PCAOB has been on a mission to scare the pants off of auditors everywhere in the past year with record fines and scary speeches, the Financial Accounting Standards Board took a much more chill approach to 2022. 8—Conceptual Framework for Financial Reporting—Chapter 2: The Reporting Entity.