Would you like to improve your strongentrepreneurial skillsstrong Do you want to create a solid strongaccounting systemstrong for your business pbrppIf you're seeking success in the realm of accounting, this is the perfect book for you. Keep reading ppbrppEvery business needs a sound accounting system to be successful. However, creating a simple account is not so simple. ppbrppstrongGenerally Accepted Accounting Principlesstrong GAAP were implemented after the Great Depression, and they aim to avoid another economic crisis in the US. GAAP is a compilation of guidelines that aim to enhance financial transparency. Lenders and creditors view GAAP favorably. When offering business loans, most financial institutions need annual GAAP-compliant financial statements as part of their debt covenants. Due to this, the majority of U.S. businesses obey GAAP. ppbrppThe existing set of standards followed by accountants relies on some fundamental premises. The core principles and concepts outlined in