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GAAP and the Development of Management Accounting Systems

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Generally accepted accounting principles (GAAP) assist the development of management accounting systems. Do you agree? Explain.

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This solution discusses whether generally accepted accounting principles assist with the development of management accounting systems.

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I disagree. Generally accepted accounting principles (or GAAP) are guidelines that entities must follow in reporting and presenting their transactions through financial statements. Financial statements are comprised of balance sheet, income statement, statement of cash flows, changes in ...

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