Scribd Logo
Upload

Welcome to Scribd!

  • Generally Accepted Accounting Principles (GAAP)

    Uploaded by

    prabir kumer Roy
    45 views1 page
    Generally Accepted Accounting Principles (GAAP) refer to a common set of accounting standards and procedures that companies must follow when compiling their financial statements. GAAP combines authoritative standards set by policy boards and commonly accepted accounting practices to improve clarity in financial reporting. GAAP differs from pro forma accounting and IFRS standards, which are considered non-GAAP methods.

    Original Description:

    Original Title

    Generally Accepted Accounting Principles (GAAP).docx

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Generally Accepted Accounting Principles (GAAP) refer to a common set of accounting standards and procedures that companies must follow when compiling their financial statements. GAAP combines authoritative standards set by policy boards and commonly accepted accounting practices to improve clarity in financial reporting. GAAP differs from pro forma accounting and IFRS standards, which are considered non-GAAP methods.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    45 views1 page

    Generally Accepted Accounting Principles (GAAP)

    Uploaded by

    prabir kumer Roy
    Generally Accepted Accounting Principles (GAAP) refer to a common set of accounting standards and procedures that companies must follow when compiling their financial statements. GAAP combines authoritative standards set by policy boards and commonly accepted accounting practices to improve clarity in financial reporting. GAAP differs from pro forma accounting and IFRS standards, which are considered non-GAAP methods.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    Generally Accepted Accounting Principles (GAAP)

    Generally Accepted Accounting Principles (GAAP)Generally accepted accounting principles (GAAP) refer
    to a common set of accepted accounting principles, standards, and procedures that companies and their
    accountants must follow when they compile their financial statements. GAAP is a combination of
    authoritative standards (set by policy boards) and the commonly accepted ways of recording and
    reporting accounting information. GAAP improves the clarity of the communication of financial
    information.

    GAAP may be contrasted with pro forma accounting and with the IFRS standards, which are both
    considered to be non-GAAP.s

    You might also like