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Hey are you ready for today's accounting class
Yeah, we are learning about GAAP right?
Jamie and Cersei are friends who go to the same school and are neighbors
Good morning Jamie and Cersei
They take the bus to school everyday
GAAP Accounting Principles
Jaime and Cersei arrive at Jon Snow Secondary School
Cersei and Jamie run into their accoutning teacher, Mr. Bronn in the halls before school starts
Mr.Bronn introduces the General Accepted Accounting Principles
1. Economic Entity Assumption The accountant keeps all of the business transactions of a sole proprietorship separate from the business owner's personal transactions. For legal purposes, a sole proprietorship and its owner are considered to be one entity, but for accounting purposes they are considered to be two separate entities.
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Photos for Class
– Search for School-Safe, Creative Commons Photos (It Even Cites for You!
– Easily Make and Share Great-Looking Rubrics
– Create Custom Nursery Art