1,100 – 1,250 word paper

Topic: Describe the role of financial accounting in contemporary business. Provide one specific, real-life example of how financial accounting helps external stakeholders make informed decisions. Also, describe the role Generally Accepted Accounting Principles (GAAP) and the Financial Accounting Standards Board (FASB) plays in financial reporting in the United States. Paper must be formatted according to APA 6th edition guidelines, and you need to use at least three external references. Note that the paper will be submitted to Turn-It-In to check Originality.