Title: Maintain a filing system using generally accepted accounting principles (GAAP).
Course: Agricultural Business Operations II (18201-36) > Section: Operating the Agribusiness

Maintenance should include filing and archiving business files, receipts, and tax forms with consideration of

- consistency
- relevance
- reliability
- comparability
- length of time required to maintain records
- security of records.

Process/Skill Questions:

- Why is comparability one of the most important aspects of GAAP?
- What is the purpose of GAAP?
- What is the difference between active files and permanent files?
- What are some benefits of maintaining a filing system? What are the advantages and disadvantages of maintaining files on a computer?