Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 1 - Financial Accounting and Accounting Standards - Review and Practice - Questions - Page 23: 20


Codification of GAAP helps users to have a depper and better understanding of GAAP. The time research accounting issues and the risk of noncompliance with GAAP will be reduced Codification of GAAP makes it easier for users to access GAAP more easier as well makes the updating process more easier and helps users to stay updated with current GAAP.

Work Step by Step

Additionally, codification of GAAP streamlines and simplifies how to determine what GAAp is, which results to better financial accounting and reporting practices.
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