GAAP: A Comprehensive Guide
Remote Quality Bookkeeping
JULY 24, 2023
GAAP is a set of accounting standards developed by the Financial Accounting Standards Board (FASB) and enforced by the U.S. For example, in 2019, Hertz was fined $16 million for inaccurate financial reporting. For instance, GAAP requires the use of accrual basis accounting.
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