What is GAAP accounting?

Answer GAAP is an acronym for Generally Accepted Accounting Principles. These are principles developed for companies to make their financial statements conform with authoritative standards and procedures.... Read More »

Top Q&A For: What is GAAP accounting

What are gaap&tax accounting?

Generally Accepted Accounting Principles (GAAP accounting) and tax accounting are two methods used to measure financial information. Each method is used for a different purpose and many companies ... Read More »

What does the accounting term GAAP stand for?

Generally accepted accounting principles, or GAAP, are a series of principles and methods that are adopted by the accounting community of a given country. They allow business entities within the co... Read More »

GAAP International Accounting Practices?

Every country that has an established stock exchange has a set of generally accepted accounting principles (GAAP) that it requires public companies to follow. A country's GAAP develops over a perio... Read More »

Does GAAP use the accrual system of accounting?

The Generally Accepted Accounting Principles (GAAP) uses the accrual basis of accounting instead of the cash basis of accounting. The main difference between methods is when revenues and expenditur... Read More »