Well there are rules as far as how you must account certain things so that they may be reveiwed by government agencies, and these from a legal standpoint cannot be broken. This is to stop fraud, tax evasion, etc
and then there are “rules” which are widely taught, and widely considered as best practice. These you do not have to follow, so long as you feel you are producing an accurate accounting. However, as someone who has done more accounting than your average bear, best practice procedures help tremendously.
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