WHY ARE COMPANIES REQUIRED TO COMPLY GAAP?

Generally Accepted Accounting Principles (GAAP). Do u consider which Private companies should be compulsory to imitate with (GAAP). Why or Why not?

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T E July 16, 2010 at 1:56 pm

all companies, private or public, as only following GAAP would make the financial statements to be understood by their readers, and without GAAP, the financial statements may be misleading to the readers

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