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GAAP and Financial Reports

by | Dec 1, 2023 | Posted Questions

GAAP and Financial Reports

Managers and non-accounting personnel can have a hard time
deciphering standard financial statements. There are two possible solutions to
the problem. They are making changes to get GAAP to recognize accounting for
lean or having two separate financial reports.

1. What are the advantages and disadvantages of GAAP
recognizing accounting for Lean?

2. What are the advantages and disadvantages of having two
seperate financial reports?
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