GAAP is a set of generally accepted accounting principles widely used in the U.S. for financial reporting by corporations and government entities.

Financial accounting is the process of recording, summarizing, and reporting the myriad of a company’s transactions to provide an accurate picture of its ... Principles of Financial Accounting .

Accounting principles help hold a company’s financial reporting to clear and regulated standards. In the United States, these standards are known as the Generally Accepted Accounting Principles ...

The accounting principles work together, so any deviation from reporting requirements on one part of a company's financial statement could cause other parts to be incorrect. 2. Consistency ...

International Financial Reporting Standards (IFRS) is a set of accounting principles designed for publicly traded companies. Issued by the International Accounting Standards Board (IASB), IFRS has ...

Generally accepted accounting principles (GAAP) is a technical accounting term that encompasses the conventions, rules and procedures necessary to define accepted accounting practice at a particular ...

Drexel University's financial accounting policies and procedures follow the generally accepted accounting principles of Fund Accounting as prescribed by the National Association of College and ...

Understanding these basic accounting concepts can help you make smarter financial decisions in the long run, as well as in your day-to-day operations.

When you read financial statements, you may see GAAP vs. non-GAAP figures reported. All public companies in the U.S. are required to use generally accepted accounting principles (GAAP). Financial ...