Rustler -
What are these 7 ways to do accounting -- where you say GAAP is only one of them?
Agree that public companies must do accrual-basis accounting, but they are not the only ones.
ALL companies with contracts with Federal Govt are required to follow GAAP and accrual-basis accounting.
This is regardless of size, even as small as one owner/employee and there are many of them on Quickbooks.
