Generally Accepted Accounting Principles, GAAP

[Pal Shrestha]

The Generally Accepted Accounting Principles, GAAP, is a standard framework of guidelines for financial accounting. It comprises the standards, conventions and rules for recording and summarizing transactions and for preparing of financial statements. Each country has their own version of GAAP with standards set by a national governing body. GAAP operates under a different set of assumptions, principles and constraints, as determined by the local and state governments.

[sunshine]

Nice Information.............

sunshine