Posted in Community :
Finance & Accounts
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Activity:
Question posted: 11 24 2008 18:21:32 +0000,
2 answers, 408 views, last activity
07 06 2010 20:18:08 +0000
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Answered by
Sandip Gunjal, Sr. Associate, Irevna
| 11 24 2008 18:22:31 +0000
Not Rated
Management reports are usually made just for the management in the company and not really seen by many others. They can follow GAAP if they please, but for what they do, it would probably be faster for them if they didn't. They can just write up what they need without worrying about following those rules.
Answered by
Saurabh Ratnakar, Associate, HSBC Holdings
| 11 24 2008 18:22:17 +0000
Not Rated
No, they are just
management reports. Accounting reports only have to follow GAAP when they are
to be viewed by the public or governement, banks, etc. Management reports are
usually just for management and don't need to follow GAAP, but it might still
be eaiser.
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