Generally Accepted Accounting Principles are most closely connected to ________.

Question

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Generally Accepted Accounting Principles (GAAP) are a set of standards, guidelines, and procedures for financial accounting. Therefore, GAAP are most closely connected to financial accounting, which deals with the preparation of financial statements for external users such as investors, creditors, and regulatory agencies. Management accounting, on the other hand, focuses on providing information to internal users for decision-making and planning purposes, and internal auditing involves evaluating the effectiveness of an organization's internal control systems and risk management practices.

Generally Accepted Accounting Principles Are Most Closely Connected to ________