Question

can any body explain accounting principles​

Answer 1

Answer:

Explanation:

Generally Accepted Accounting Principles

GAAP attempts to standardize and regulate the definitions, assumptions and methods used in accounting. ... If a company's stock is publicly traded, federal law requires that its financial statements are audited by independent public accountants.

Answer 2

Accounting principles are the rules and guidelines that companies must follow when reporting financial data. The financial ACCOUNTING Board (FASB) issues a standardized set of Accounting principles in the U.S referred to as general accepted accounting principles (GAAP)...........Acrual Principle.