XACC 280 week 1 CheckPoint Accounting Assumptions, Principles, and Constraints

CheckPoint: Accounting Assumptions, Principles, and Constraints

·        Due Date: Day 5 [post to the Assignments section of the Classroom]

·        Write an essay in 250 to 300 words, including the following:

o   The basic assumptions of accounting

o   The principles of accounting

o   The constraints of accounting

o   A conclusion stating how you think sound financial reporting depends on principles, assumptions, and constraints. Refer to the U.S. GAAP in your response. 

Solution