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 ...

Reviewed by Charlene Rhinehart What Is GAAP? Generally Accepted Accounting Principles, often known by the acronym GAAP, is a set of accounting rules created to govern financial reporting for ...

Responsibility for enforcement and shaping of generally accepted accounting principles (GAAP) falls to two organizations: The Financial Accounting Standards Board (FASB) and Securities and ...

non-GAAP figures reported. All public companies in the U.S. are required to use generally accepted accounting principles (GAAP). Financial statements created using these principles are filed on a ...