GAAP

Posted in Finance, Accounting and Economics Terms, Total Reads: 1117
Advertisements

Definition: GAAP

GAAP is an acronym used for Generally Accepted Accounting Principles. It is a set of accounting principles, standards and procedures that are used by companies to prepare their financial statements. They have been prepared by the Financial Accounting Standards Board.

Some of the rules are in accordance with regulatory policies and some rules are those which have been accepted over a period of time as the way to represent transactions. GAAP provides a consistent framework to compare the financials of different companies.


Search & Explore : Management Dictionary

Browse definitions and meaning of more concepts and terms similar to GAAP. The Management Dictionary covers definitions and overview of over 7000 business concepts from 6 categories.



Share this Page on:

Similar Definitions from same Category: