The author and editors take ultimate responsibility for the content. Generally accepted accounting principles, or GAAP, is a set of accounting standards followed by most U.S. businesses ...

Generally Accepted Accounting Principles (GAAP) and the standards to which the university is audited. Download Chapter 4 This will help users understand how the Finance System, general ledger and ...

Reviewed by Eric EstevezGenerally accepted accounting principles (GAAP) require that all inventory reserves be stated and valued using either the cost or the market value method, whichever is lower.