What needs to go in a disclaimer explaining generally accepted accounting principals?

Answer by  patti (29325)

The consumer must pursue an explanation of "generally accepted accounting principals." The topic is too complex to "explain" in a disclaimer.

Answer by  diamond90 (309)

These are laws that are used within a business allowing the transactions to be organized and kept clear and fair. The principal is the implementation and understanding of accounting.

Answer by  tamarawilhite (17883)

Determine your form of accounting - cash based or accrual method. Include that information in your GAAP, generally accepted accounting principals. Also state that all items will be recorded.