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GAAP: What It Is and Why Your Investors Expect It

inDinero Accounting

Generally Accepted Accounting Principles (GAAP) are a set of accounting principles, standards, and procedures that define accepted accounting practice at a particular time. Its purpose is to ensure that financial statements provide an accurate and transparent view of the company’s financial condition and operations.

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Basic Accounting for a Small Business: Bookkeeping and Accounting Basics

Snyder

More so even than owners of large companies since they can’t usually delegate all that work to business accounting professionals simply due to the costs. That’s why understanding the essential principles and terms in accounting is so important for them. Basic terms for small business accounting and bookkeeping.

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Accounting Basics for Small Business: A Simple Guide

Snyder

It’s necessary to distinguish between accounting and bookkeeping because people often confuse these two notions. Bookkeeping is a part of a business accounting system that focuses on recording and administering financial transactions. So let’s proceed to small business accounting basics.