GAAP

abbr. generally accepted accounting principles

Thesaurus

Noun

GAAP - a collection of rules and procedures and conventions that define accepted accounting practice; includes broad guidelines as well as detailed proceduresgenerally accepted accounting principlesaccounting principle, accounting standard - a principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactionsaggregation, collection, accumulation, assemblage - several things grouped together or considered as a whole

GAAP

See: Generally Accepted Accounting Principles

Generally Accepted Accounting Principles

Rules to which accountants adhere when preparing financial statements. The Generally Accepted Accounting Principles exist to ensure that American accountants are using the same or almost the same standards so that comparison of financial statements between or within a company is easy and accurate. They also promote transparency in accounting. The GAAP are set by the FASB. See also: International Financial Reporting Standards.

GAAP

See generally accepted accounting principles.

Generally accepted accounting principles (GAAP).

Generally accepted accounting principles (GAAP), which are the basis for financial reporting by the private sector in the United States, have been codified by the Financial Accounting Standards Board (FASB) into a single authoritative source.

The codification is designed to strengthen the economic system by organizing standards from various sources into approximately 90 accounting topics and providing uniform criteria for communicating data. The code is scheduled for final adoption at the end of 2008 following a one-year verification period.

GAAP (Generally Accepted Accounting Principles)

see ACCOUNTING CONCEPTS.

GAAP

(pronounced “gap”) Generally accepted accounting principles declared by the Financial Accounting Standards Board (FASB).

GAAP

Acronym	Definition
GAAP➣Generally Accepted Accounting Principles
GAAP➣Generally Accepted Accounting Procedures (less common)
GAAP➣Groupement des Agents Automobiles Peugeot (French: Grouping Agents Peugeot Automobiles)
GAAP➣Gendering Adolescent AIDS Prevention
GAAP➣Greater Access to Affordable Pharmaceuticals
GAAP➣General Aviation Aerodrome Procedures
GAAP➣Gender and Arts Project
GAAP➣Great Alaskan Accounting People
GAAP➣General Assistance Advocacy Program
GAAP➣Gateway Army Ammunition Plan

GAAP

Related to GAAP: Non-GAAP, Sarbanes Oxley

noun

Synonyms for GAAP

noun a collection of rules and procedures and conventions that define accepted accounting practice

Synonyms

generally accepted accounting principles

Related Words

accounting principle
accounting standard
aggregation
collection
accumulation
assemblage