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GAAP: What It Is and Why Your Investors Expect It

inDinero Accounting

It also provides a set of rules that must be followed when recording transactions in accounting systems to ensure that all companies use the same methods in their financial reporting. The components of GAAP can be broken down into two main categories: accounting procedures and reporting standards.

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Accounting Basics for Small Business: A Simple Guide

Snyder

In general, business accounting is the process of organizing and analyzing a company’s financial information to plan and advise on taxes, file tax returns, make forecasts, and help with data-driven financial decision making. So let’s proceed to small business accounting basics. Open a business bank account.