Difference between revisions of "Generally Accepted Accounting Principles"
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*[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws. | *[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws. | ||
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*[[Bookkeeping Quarter]]. | *[[Bookkeeping Quarter]]. | ||
[[Category: Septem Artes Administrativi]][[Category: Articles]] | [[Category: Septem Artes Administrativi]][[Category: Articles]] | ||
Revision as of 19:31, 4 January 2019
Generally Accepted Accounting Principles (better known by the acronym; hereinafter, GAAP) is the procedures and guidelines that must be followed during the accounting process.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Generally Accepted Accounting Principles. The procedures and guidelines that must be followed during the accounting process.
Related concepts
- International Financial Reporting Standards. A group of accounting standards and procedures that if adopted by the United States could replace GAAP.
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
