Question

I am writing a essay on GAAP and was wondering why organizations must follow the rules for GAAP when reporting data on the financial statements for organizations

Answer 1

The AISPA Code of Professional Conduct requires that organizations follow these rules.

http://www.fasab.gov/accepted.html

Answer 2

but isn't ti true that even with GAAP standards organizations can still alter financial statements so one must examine closely looking for any figures that may perceive to be unnatural in nature.

Answer 3

True.

Answer 4

thanks for you help I am going ot read this web site and see if i can understand all this a little better.