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Discussion Post #1 Week 1 Jordan M. Hill BUS 591 Financial Accounting & Analysis Instructor: Dr. Havel October 8, 2019
In the United States, there are set of generally accepted accounting principles or , which are backed with authoritative support (Kimmel, Weygandt, Kieso, 2019, The Standard-Setting Environment para. 1). These principles serve as a set of guidelines for accounting professionals within the country and are set by the Financial Accounting Standards Board (FASB) in collaboration with accounting and business professionals ((Kimmel, Weygandt, Kieso, 2019). The purpose of these principles is to ensure uniform accounting practices and reporting. Outside the U.S., the International Accounting Standards Board (IASB) is responsible for setting accounting principles...