Open AccessWe Are Not Publicly Traded And So The Rules Dont Apply Or Do They Should They?
Author(s) -
Kelly Noe
Publication year - 2011
Publication title -
journal of business case studies
Language(s) - English
Resource type - Journals
eISSN - 2157-8826
pISSN - 1555-3353
DOI - 10.19030/jbcs.v8i1.6743
Subject(s) - accounting , business , accounting standard , accounting information system , financial accounting
This paper presents a case study of the accounting practices of a company that is privately held. The company follows Generally Accepted Accounting Principles (GAAP) but has some questionable transactions. The paper then follows up with a discussion of baby-GAAP and possible consequences of two different GAAP options.