Why is GAAP important in accounting?

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1. #financial
2. #statements
3. #investors
4. #impact
5. #events
6. #transactions
7. #accepted
8. #standardized
9. #generally
10. #without
11. #would
12. #principles
13. #struggle
14. #provides
15. #interpret
16. #position
17. #managers
18. #methodology
19. #accounting
20. #company
21. #recording