In GAAP We Trust

Topics:
GAAP
Tags:
Certified Public Accountant,
Currency,
Finance,
Financial,
Financial Accounting,
GAAP,
Transparency
Source:
The CPA Journal

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Overview: This article is about Transparency in corporate financial statements which is essential for an investor’s assessment of risk and trust in stocks. Transparency depends upon the rules that are chosen and applied. Even a casual study of Enron’s financial dealings shows the degree to which GAAP and GAAS rely on judgment. Our national currency no longer consists of government-issued dollars. It also consists of the collection of paper currencies issued by thousands of publicly franchised corporations. Our ability to rely on this new form of currency depends upon our ability to state, with assurance, that “In GAAP We Trust.”

(Is this item miscategorized? Does it need more tags? Let us know.)

Format: HTML | Date: Oct 2002 | Pages: 1

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