double entry bookkeeping, Government and payroll tax

GAAP: What It Is and Why Your Investors Expect It

inDinero Accounting

JUNE 29, 2023

Additionally, GAAP ensures that businesses remain compliant with government regulations regarding financial reporting. 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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