Accounting frameworks are developed to meet the financial reporting objectives of different types of organizations. Two widely applied approaches are accounting principles generally accepted in the United States of America (GAAP) presented in the standard GAAP financial statement format—commonly used by commercial entities—and the Fund Method of accounting, used by private equity, hedge funds, mutual funds, and other investment structures.
Accounting frameworks are developed to meet the financial reporting objectives of different types of organizations. Two widely applied approaches are accounting principles generally accepted in the United States of America (GAAP) presented in the standard GAAP financial statement format—commonly used by commercial entities—and the Fund Method of accounting, used by private equity, hedge funds, mutual…
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