Investment U

What are Generally Accepted Accounting Principles (GAAP)?

When a public company issues a financial statement, everything needs to be clear and well-understood by everyone reading it. To ensure this, it’s paramount to have a baseline for reporting. That’s ...
Houston Chronicle

Primary Purpose of Generally Accepted Accounting Principles

Public companies are required to file financial reports regularly and to craft their reports according to generally accepted accounting principles, or GAAP, as the standards are commonly known. The ...
Houston Chronicle

The Accounting Cycle & the Importance of Using Generally Accepted Practices

Generally Accepted Accounting Principles, or GAAP, comprise a set of rules and regulations set forth by the Financial Accounting Standards Advisory Board (FASAB) and the Governmental Accounting ...
Accounting Today

FASB Issues Its Own GAAP Hierarchy

The Financial Accounting Standards Board has issued FASB Statement No. 162, "The Hierarchy of Generally Accepted Accounting Principles," intended as a replacement for the American Institute of CPAs' ...
Investopedia

GAAP vs. IFRS: Key Differences in Inventory Accounting

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance ...
American Enterprise Institute

Allowing U.S. and EU Corporations to Adopt U.S. Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS)

April 30, 2007 was an important day for U.S. investors. On that day, President George W. Bush, German Chancellor Angela Merkel, and European Commission President José Manuel Barroso agreed to “promote ...
Accounting Today

Governments exploit GAAP fund accounting loopholes

While not perfect, generally accepted accounting principles are considered the gold standard of accounting rules. Corporations throughout the country use GAAP to prepare their financial statements.
Smart Business Magazine

‘Big GAAP’ and ‘little GAAP’

More than 17,000 companies are registered with the Securities & Exchange Commission (SEC), and more than 20 million are privately held. For decades, there has been discussion and debate about the ...
The National Law Review

A Generally Accepted Accounting Principles Happy Month in SEC Enforcement

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...
TechRepublic

What Are Generally Accepted Accounting Principles (GAAP)?

What Are Generally Accepted Accounting Principles (GAAP)? Your email has been sent Understanding GAAP is essential for anyone involved in finance or accounting. Learn the key principles and their ...
AOL

What Are Generally Accepted Accounting Principles (GAAP)?

Using standard accounting methods benefits any small business. For those looking to level up their financial reporting, adopting generally accepted accounting principles (GAAP) can unlock new ...