GAAP assn

GAAP assn

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  • GW
  • I'll do whatever I can to help!
  • GAAP woman I really need your help! I believe my accountant Andy is up to something fishy.
  • GW
  • I'll get to the bottom of this!
  • The club has been doing way better than usual. I have a feeling it is because of Andy's "laid-back" accounting technique.
  • GW
  • I'm GAAP woman and I am here to make sure that GAAPs are being followed.
  • Yo, who are you?
  • GW
  • Andy I've been looking at the club's financial statements, and I've seen that the club has reduced their expenses a lot over the past few months.
  • Yeah I don't think we've actually reduced our expenses, but I just like to do a rough estimate of how much we spend on DJ's, food, and drinks here.
  • I found the problem! Andy is estimating the costs of your purchases, which is lowering your expenses. Since your expenses are lower your net income is also higher.
  • GW
  • So Andy is overvaluing our net income! I'm going to discuss this with him right away. Thanks GAAP woman!
  • GW
  • I'm so happy I got to the bottom of the issue at the club. Time to solve more GAAP violations!
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