Accounting Hero. GAAP – General Principles Posted by Robert Jaeger December 29 2021 Posted in Controlling Tags accounting financial gaap robert jaeger the accounting hero As I stated before I will go through GAAP similar to IFRS on a step by step basis breaking down each section There are nine sections to the GAAP language that are then thoroughly broken down.
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Accrual Accounting is like sophisticated IOUs – The Accounting Hero Accrual Accounting is like sophisticated IOUs Do you understand the concept of an IOU? I do something for you you don’t have any money to pay me so instead you write on piece of paper how much money you owe me That’s kinda the concept of what we call accrual accounting Kinda.
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