I was under the impression American companies already have to maintain 2 sets of... | Hacker News

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username332211 on Jan 20, 2024 | parent | context | favorite | on: Thousands of small businesses are struggling beca...

I was under the impression American companies already have to maintain 2 sets of books anyways.

After all, the IRS doesn't use GAAP.

ghaff on Jan 20, 2024 [–]

It's probably more than that. You have external GAAP, non-GGAP, constant currency vs. non-constant currency metrics, all sorts of internal accounting measures. With larger companies it's complicated. (Smaller companies it's more about cash flow even if they consider taxes as well.)

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