nor do I suspect that GAAP was widely accepted within just a few years after it was introduced. http://en.wikipedia.org/wiki/Generally_Accepted_Accounting_Principles_%28United_States%29#History *1932–1933* Following the stock market crash of 1929, an American Institute of Accountants’ (AIA) special committee, in correspondence with the New York Stock Exchange, recommends five “broad principles of accounting which have won fairly general acceptance” http://www.nysscpa.org/cpajournal/2005/105/infocus/p18.htm http://accountinginfo.com/financial-accounting-standards/asc-100/105-gaap-history.htm On Fri, Sep 21, 2012 at 12:14 PM, Larry Medina <[log in to unmask]>wrote: > > > > > Another point might be that G**P ain't GAAP. It never will be, but that > is > > another thread. > > > > There is NO QUESTION that G**P doesn't rise anywhere near the level of GAAP > when it comes to acceptance, recognition, or legally binding opinion. > -- Peter Kurilecz CRM CA [log in to unmask] Richmond, Va http://twitter.com/RAINbyte http://tech.groups.yahoo.com/group/RAINbyte/ http://paper.li/RAINbyte/rainbyte http://pinterest.com/pakurilecz/archives/ http://pinterest.com/pakurilecz/records-management/ http://www.linkedin.com/in/peterakurilecz Information not relevant for my reply has been deleted to reduce the electronic footprint and to save the sanity of digest subscribers List archives at http://lists.ufl.edu/archives/recmgmt-l.html Contact [log in to unmask] for assistance To unsubscribe from this list, click the below link. If not already present, place UNSUBSCRIBE RECMGMT-L or UNSUB RECMGMT-L in the body of the message. mailto:[log in to unmask]
