Episode 014 – Generally Accepted Accounting Principles (GAAP) Part 2 of 2

 

Recorded: June 5, 2021

Released: June 5, 2021

Intro by Clive Castle

Sounds by ZapSplat

 

In the second installment of a 2-part series on Generally Accepted Accounting Principles, or GAAP, Revenue Recognition, Materiality, Conservatism, and the Full Disclosure Principles are discussed. These and other principles that were discussed in Part 1 provide a framework for bookkeepers when recording transactions and allows for comparability when reviewing financial statements of different companies.