Private companies do not have to follow or care about GAAP. They should, but the... | Hacker News

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Brushfire on June 15, 2015 | parent | context | favorite | on: Tech Startups Woo Investors with Unconventional Fi...

Private companies do not have to follow or care about GAAP. They should, but there is no "legality" here.

wjnc on June 15, 2015 [–]

Thanks, you're right. Did not know that US GAAP is adopted by the SEC. I'm more familiar with IFRS and Dutch GAAP which (at least partly) matter for any corporation that is registered in the Netherlands.

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