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Gaap - Politics, Business, Civil, History - Posted: 7th Oct, 2009 - 2:03am
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Accounting
Post Date: 2nd Oct, 2009 - 6:05pm / Post ID: #
Gaap
GAAP
What does "GAAP" stand for in accounting terms?
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Gaap History & Civil Business Politics
I think it is Generally Accepted Accounting Practices. It is the definition of how accounting must be done in the United States. Since accounting reports must answer government regulatory questions as well as provide information for investors and other interested parties, accounting must meet uniform requirements. The GAAP defines those requirements.
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According to Wikipedia it is "Generally Accepted Accounting Principles".
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