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.
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.
Jul 19th, 2014
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