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BUS 321 Intermediate Accounting April 11, 2016Name 1. GAAP What does FAST stand for? 2. REVENUES / EXPENSES Write the definition of revenue.3. ASSETS / LIABILITIES Write the definition of assets.4.

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What is gaap what does fasb?

GAAP stands for Generally Accepted Accounting Principles, and FASB stands for Financial Accounting Standards Board.

Who is required to file gaap what does fasb?

Publicly traded companies in the United States are required to file financial statements following GAAP standards set by the FASB.

How to fill out gaap what does fasb?

To fill out GAAP financial statements, companies must follow the specific guidelines and principles set by the FASB, ensuring accuracy and consistency in reporting.

What is the purpose of gaap what does fasb?

The purpose of GAAP is to provide a standardized framework for financial reporting, allowing investors and stakeholders to make informed decisions based on the information presented.

What information must be reported on gaap what does fasb?

Companies filing under GAAP must report financial information such as balance sheets, income statements, and cash flow statements, following the guidelines set by the FASB.

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