Does GAAP work for business's today?

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Request for Question Clarification by omnivorous-ga on 28 Apr 2005 19:25 PDT

Mbcuddles --

You've asked a tough judgmental question that could take hours to answer.

But first you have to let researchers know whether you're referring to
U.S. or European GAAP standards?

Best regards,

Omnivorous-GA

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Clarification of Question by mbcuddles-ga on 29 Apr 2005 05:58 PDT

The project is on the history of US GAAP, what is GAAP and does it
work for business's today, especially small ones.

Mbcuddles --

This Google Answer is reallly about how standards for "Leases" were
developed but notes the origin of GAAP and has some good resources
mentioned:
http://answers.google.com/answers/threadview?id=512056

However, most of what's written is about larger incorporated and
publichly-owned businesses, particularly since the Securities &
Exchange Commission (SEC) has promoted the development of these
standards for accounting.   I think that for the impact on smaller
businesses, you'll have to spend some time looking at what
associations representing them say about GAAP.

Best regards,

Omnivorous-GA