Take a deeper look into the development and purpose of the generally accepted accounting principles, also known as GAAP, which are used for financial reporting.

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 ...

In June 2015, GASB issued Statement No. 76. The objective of this statement is to identify—in the context of the current governmental financial reporting environment—the hierarchy of generally ...

According to generally accepted accounting principles (GAAP), there are two criteria a company must meet before it can record ...

Nassau’s budget needs a giant dose of sunlight and accountability,” Nassau Residents for Good Government wrote. “Since the ...

GAAP, or Generally Accepted Accounting Principles, accounting standards ... is an independent government agency responsible for ensuring the integrity of the capital markets in the United States.