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accounting concepts

auditor

Sales

FASB Took It Easy in 2022

Going Concern

JANUARY 2, 2023

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. The six ASUs are: ASU No. 8—Conceptual Framework for Financial Reporting—Chapter 2: The Reporting Entity.

accounting standards

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An Essential Guide to Accounting and Basic Accounting Principles for Beginners

Snyder

NOVEMBER 22, 2022

Basic accounting includes five important and significant transaction types: revenue, expenses, assets, liabilities, and equity. Revenue – (also known as sales) the reflection of the customers’ value for the product. Auditors are mostly concerned with how businesses comply with this particular principle. Accrual principle.

accounting principles

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FASB Took It Easy in 2022

An Essential Guide to Accounting and Basic Accounting Principles for Beginners

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