accounts payable, double entry bookkeeping, Non-Profits and payroll tax

GAAP: What It Is and Why Your Investors Expect It

inDinero Accounting

JUNE 29, 2023

The components of GAAP can be broken down into two main categories: accounting procedures and reporting standards. On the accounting side, GAAP requires specific methods for recording transactions, such as double-entry bookkeeping, which involves debiting one account while crediting another in order to maintain accuracy in recording data.

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accrual accounting accounting principles accounts payable accounting standards

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GAAP: What It Is and Why Your Investors Expect It

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