GAAP
Generally Accepted Accounting Principles. A widely accepted set of rules, conventions, standards, and procedures for reporting financial information, as established by the Financial Accounting Standards Board.
Related Terms
Related Terms on BusinessDictionary
accounting valuation
accrual principle
International Accounting Standards (IAS)
allowability
International Accounting Standards Board (IASB)
qualified auditor
auditor's adverse opinion
auditor's qualified opinion
basic financial statements
single-entry bookkeeping
book value (BV)
recognition of expense
Generally Recognized Accounting Practice (GRAP)
lower of cost or market value
accountant's liability
regulatory capital
summary of significant accounting policies (SSAP)
external audit
International Financial Reporting Standards (IFRS)
compilation
accrual principle
International Accounting Standards (IAS)
allowability
International Accounting Standards Board (IASB)
qualified auditor
auditor's adverse opinion
auditor's qualified opinion
basic financial statements
single-entry bookkeeping
book value (BV)
recognition of expense
Generally Recognized Accounting Practice (GRAP)
lower of cost or market value
accountant's liability
regulatory capital
summary of significant accounting policies (SSAP)
external audit
International Financial Reporting Standards (IFRS)
compilation
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... part of the Accounting subject.
... an essential investing term.
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