Tag Archives: GAAP

GAAP

Understanding External Financial Statements

Companies offer external financial statements for sharing information about their business to the outside world including prospective lender and investors. Generally, external financial statements provided by companies are not much different from its internal accounting, though these can be considerably … Continue reading

The Four Accounting Principles

Every profession dictates its own principles to follow and accounting is no exception. Though accounting principles are multifarious, their fundamentals are neither difficult to understand nor being put into practice. Accounting principles comprise of four essential assumptions, four essential principles … Continue reading