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Podcast: The American Enterprise Manifesto: My America's Vision of Peace and Nonviolence for Humanism
Episode: GAAP IS REPLACING OR SUPPLEMENTING BARS IN THE STATES OFWASHINTON, CALIFORNIA AND CHINA
Description: GAAP IS REPLACING OR SUPPLEMENTING BARS IN THE STATES OFWASHINTON, CALIFORNIA AND CHINA. Generally accepted accounting standards GAAP are being utilized to suppliment Bugetary Accounting Reporting Systems BARS. Why now? Isn't institutional accounting differecn than a business enterprise. Yes if the enity it purely an institution such as a church. Now it is becoming necessary that governmental entities that look like an entprise pursing profits and increased cash flow to account for their tranactions on an accruel basis of accounting and financial reporting. So, is this a bigdeal? Yes the results of operating an enterprise is far more complicated...