GAAP - Update on New Accounting Principles and Impacts on Borrowers' Financials Credit Risk Managers

Credit Risk Managers

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GAAP - Update on New Accounting Principles and Impacts on Borrowers' Financials Credit Risk ManagersWe tend to take accounting for granteddebits equal credits, total assets equal total liabilities and stockholders equity. Generally accepted accounting principles (GAAP) are generally accepted because they are generally written for the ages, so they do not change often, but when they do, there are good reasons for the change. Good reasons for updating as business and the economy do change over time, and several new principles warrant review to