GAAP thing

GAAP thing

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  • I can feel that someone is making a GAAP principles mistake
  • I heard you were having trouble with your GAAP principles
  • *GAAP mistake*
  • Mr. Accountibility!
  • You must state your assets, liabilities, and equity investments with their ORIGINAL purchasing cost
  • I see you are breaking accounting principle #1: the cost principle
  • Anytime! 
  • Oh thank you sir I didn't know!
  • Someone else is breaking a GAAP principle
  • I'm in a hurry but I must tell you that you wouldn't be missing information if you followed the objectivity principle! Your transactions must be recorded from source documents!
  • Thank you Mr. Accountibility, I'll record from source documents from now on
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