First of all they are beautiful, and secondly, they can be done at any period the business wants as long as it is equal and occurs at the same times every year
When are these stupid fiscal periods though?
It's the idea that accounting is done over equal and periodic time periods called fiscal periods where you track your financial progress
But there was more evil GAAP violaters lurking...
I'm going to put the new price of the product I already bought in my balance sheet because I want to look rich MWAHAHA
HEY YOU! You can't be breaking the cost principle like that. I'll use my powers to make you account for the original price of purchase
In a small town in Beijing...
HAHA no one will find out that I am not putting all of company's taxes in our financial statements in this little town
Luckily I have special hearing from all over the world to hear if someone is breaking GAAP's and you were breaking The Full Disclosure Principal! You have to include all your standings in your financial statement even those wonky taxes
UH OH. You better not find our company's secret hideout, we are doing even more illegal stuff.
In Mr. Mao's Computer Castle...
We are going to rule the world by choosing our own values for our transactions without any proof!
I threw out all of the source documents so we have no objective evidence anything happened. We'll never be stopped