Explain why generally accepted accounting principles (GAAP) require the accrual basis of accounting.

by Osman
Words: 47
Pages: 1
Subject: Accounting
Topics: APA format, Assignment help, CASH AND ACCRUAL BASIS, GAAP, Homework help

BASIC ACCOUNTING SYSTEMS: CASH AND ACCRUAL BASIS

Overview

Discussion 2

Learning Outcomes

This week students will

1. Describe the basic elements of a financial accounting system.

2. Prepare financial statements using the accrual basis of accounting.

3. Explain why generally accepted accounting principles (GAAP) require the accrual basis of accounting.