Explain what is meant by Generally Accepted Accounting Principles (GAAP)
Conduct research to find information about organizations that provide governance for accounting practices. Answer the following questions in your own words. Be sure to cite your references in proper APA style. Explain what is meant by Generally Accepted Accounting Principles (GAAP). What is the FASB, and what does this organization do? What is the SEC, and what does this organization do? In light of the ongoing economic crisis, do you think these organizations are doing a good job? Why or why not?
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