Why Do U.S.accountants Follow Generally Accepted Accounting Principles (GAAP)

question 6

Essay

Why do U.S.accountants follow generally accepted accounting principles (GAAP)?

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Definitions:

Obsessive-compulsive Personality Disorder

A disorder characterized by a pervasive pattern of preoccupation with orderliness, perfectionism, and control, at the expense of flexibility, openness, and efficiency.

Hallucinations

Perceptions in the absence of external stimuli, such as seeing or hearing things that aren't there.

DSM

The Diagnostic and Statistical Manual of Mental Disorders, a standardized classification of mental disorders used by mental health professionals.

Discrete Categories

Distinct and separate groups or classifications without overlap.