Business Finance
accounting principals

Question Description

I need help with a Accounting question. All explanations and answers will be used to help me learn.

Define the generally acceptable accounting principles that justify making adjusting entries, and speculate on the primary impact to investors and creditors if companies did not make adjusting entries until the end of the calendar or fiscal year.

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer

It would probably be acceptable and more beneficial for a company to make adjusting entries throughout the year, instead of tat the end, because for the reason that you would be more accurate to begin with and you'd make less errors in prices. Creditors and investors would probably end up with a little less money, because all of your numbers would be right, or maybe they'd end up with more... I don't know. It depends.

Doctor T (547)
Purdue University

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