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If everyone involved in the process of accounting followed their own system, or no system at all, there's be no way to truly tell whether a company was profitable or not. Most companies follow what are called generally accepted accounting principles, or GAAP, and there are huge tomes in libraries and bookstores devoted to just this one topic. Unless a company states otherwise, anyone reading a financial statement can make the assumption that company has used GAAP. If GAAP are not the principles used for preparing financial statements, then a business needs to make clear which other form of accounting they're used and are bound to avoid using titles in its financial statements that could mislead the person examining it.    GAAP are the gold standard for preparing financial statement. Not disclosing that it has used principles other than GAAP makes a company legally liable for any misleading or misunderstood data. These principles have been fine-tuned over decades and have eff...

Have you ever been to the city of Tulsa? Tulsa is a city that embraces challenges and it also values collaborative solutions. The top officials of the city are trying very hard to promote public safety, green initiatives, innovative educational opportunities, and diversity. If you want to free your entrepreneurial spirit, Tulsa is the best place for you. You can also find Accounting Principals in the city of Tulsa. The company is considered a leader in terms of offering the best workforce solutions specifically in the financial and accounting services industries. How can Accounting Principals do this? Well, the company makes use of a blend of temp-to-hire, temporary staffing, payroll services, contract services, direct placement, and a lot more. Accounting Principals can provide their clients with an accounting professional or even a team of CPAs when needed. The company is made up of nationwide representatives who have experienced accounting in the real world, and not just by ...