The alphabet of accounting
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SAAP Specific Accepted Accounting Principles Securities Forms -- and GAAP balance sheet financial statements -- are the nuts and bolts of modern accounting. Many of the failures of GAAP are the lack of specifics, and the ability to use generalizations to skirt issues and misrepresent the accounting.
It is a myth, that somehow improving GAAP, the balance sheet statement (generalized disclosure, in one perfect document) deliveries effective shareholder oversight of a large business. Investors desire and need both SAAP specifics and GAAP generalizations. Accounting linguistics.
