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Accounting II
The development of accounting concepts and principles is closely related to the
economic growth of the United States, as businesses grew in size, and outsiders
increased their demand for financial information. Accounting principles focus on the
users of accounting information. Principles have developed over a long period of time,
and are continuously subject to revision as information needs change. It is the
responsibility of accounting professionals, teachers and accounting organizations to
keep accounting principles up-to-date, relevant and useful.
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