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Sagot :
The reported financial information of a company and an analyst's perception of the company may be distorted by the usage of gaap and management's accounting judgement. The given statement is True.
What is GAAP ?
- The FASB's set of accounting regulations known as GAAP are what U.S. businesses must adhere to when creating their financial statements.
- The goal of GAAP is to make financial information more understandable, consistent, and comparable to other financial information.
- Pro forma accounting, a non-GAAP financial reporting technique, can be contrasted with GAAP.
- The main objective of GAAP is to guarantee the accuracy, consistency, and comparability of financial accounts for businesses.
- The majority of other jurisdictions utilise IFRS standards, while GAAP is mostly used in the United States.
- GAAP is made up of authoritative standards (established by policy bodies) and generally recognised practises for capturing and disclosing accounting data.
To know more about GAAP visit:
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