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Is it possible to deviate from GAAP and still prepare financial statements? What some consequences from this?


Is it possible to deviate from GAAP and still prepare financial statements? What are some possible consequences from this course of action.

538 day(s) ago

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DorthyP 		Why not just stick to GAAP? It's a pretty straightforward way of staying legit and not getting yourself into hot water.

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MariaT 		Not and be ethical.
Possible actions:
loose CPA license
be audited
go to jail

Posted 538 days ago

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Question Title Is it possible to deviate from GAAP and still prepare financial statements? What some consequences from this?
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