Our FREE GAAP Guide Helps Keep Your Business Running Smoothly.
GAAP standards help businesses big and small to maintain their financial records. Following these standards ensure that your accounting is accurate, consistent, relevant, and transparent. Even if you’re not legally required to use GAAP standards, we recommended that you do so to prevent issues in the future.
Why You Should Follow GAAP Standards
- Keeps your personal finances separate from your business's finances
- Standardize currencies in reporting, important for businesses which hire contractors from abroad
- Organize your financials so you can get an accurate picture of the financial health of your business
- Makes your business comparable to other businesses, for comparative metrics, sale, or purchase
- Minimize the risk of incomplete financial statements
As you can see, whether you are required by law to follow GAAP standards or not, using them in your accounting is crucial to running a healthy business. We know that most, if not all, small business owners and entrepreneurs do not have the time to learn accounting practices. This guide is for you. In it, we will cover not only the importance of standardized accounting practices, but the simplest ways you can follow these standards.
Our guide covers the following points:
- The Essentials of GAAP
- GAAP Standards You Must Follow
- What Happens If You Don’t Follow GAAP Standards?
- GAAP Tips to Help Your Business
Simply fill out the form to the right to get started!
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