Peer comment I response
The article Peer comment by Archana Thippani, address the legal principles of accounting concerning methods of keeping financial records and documentation. Thippani takes a vital perspective on analysis on the different methodologies we use to document financial records. He further outlines the essential details to include in a typical paper, which conflict with what we usually do. Thappani states that the detailed history is critical for business efficiency and enhance ease of decision making.
Accounting gets classified either technically or structurally. The technical procedure stands out to me that it follows the idea of acquired assets, liabilities, and equity. Thappani indicates that they help in the realization of profits or losses incurred. The structure guides on the outline, and the format for the accounting components. Theppani concludes by highlighting the various methods of documentation and the financial reporting standards for the United States, that is, GAAP. Even though Theppani does issue a conclusive comment, it’s clear to me that the accounting record is procedural and intense.