its all about gaap. generally accepted accounting principal

1. PRESENTATION ON GAAP
GERNELLY ACCEPTED ACCOUNTING
PRINCIPALS
Present to- Navin Chandra
Present by- Gurjot Singh
From – B.com 1B

2. MEANING
Gaap is a technical accounting term
which describe the basic rule, concept,
convention, and procedures that
represent the accepted accounting
principles at a particular time.

3. MATERIALITY
•States that material events must be accounted
for according to accounting rules
ting rule

4. FULL DISCLOSURE
Financial statements of a business
should be complete and should report
sufficient economic information
relating to the business entity to make
the statements understandable

5. OBJECTIVITY
 States that all business transactions must be
supported by objective evidence proving
that the transaction did in fact occur

6. THANKS