Acct. Principles - GAAP?

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Acct. Principles - GAAP?

Is it against any acct principle for an accountant to put business expenses on thier personal credit card to earn miles/points. And then turn around and cut themselves a check to reimburse themselves?

2007-02-02 06:24:30 · 2 answers · asked by GIRL 1 in Business & Finance ➔ Corporations

2 answers

Sorry, I don't think it's against any accounting principles.

It's maybe not the most ethical thing in the world for them to be doing, but the Feds aren't going to come busting in for this practice.

2007-02-02 06:35:17 · answer #1 · answered by Tyler's Mommy 4 · 0⤊ 0⤋

As long as the expenses are legitimate then the company is not losing anything. Do you think that a rule requiring people to pay cash and then seek reimbursement is fair?

2007-02-06 03:19:29 · answer #2 · answered by Harbinger 6 · 0⤊ 0⤋