Campus Only Senior Thesis
Bachelor of Arts
© 2013 Ryan P. Irish
The purpose of this paper is to explore problems in current GAAP, including earnings management and illogical accounting practices. The paper then looks at proposed solutions to these problems, but shows how, from a creditor's perspective, these solutions fall short. My conclusion is that by creating two sets of GAAP, one for large publicly traded companies and one for smaller privately held companies, financial statements will be more representationally faithful for the creditors utilizing the financial statements.
Irish, Ryan P., "Baby GAAP, A Creditor's Solution to Financial Reporting" (2013). CMC Senior Theses. 626.
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