Accounting environment question

Accounting environment question

What are the elements of the accounting environment? How do these elements affect financial statements? Why are these important? How do these elements affect comparability between companies? Provide examples.

Looking for an answer in 125-150 or so words

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An accounting environment is the environment inside of accounting which means the principles, the rules and the concepts that we adopt. The elements thus include all the factors that affect such accounting environments and could include company laws, legal tax rules, assets liabilities, equity, revenue and GAAP…

APA

135 words