Investor Glossary-gaapInvestor Glossary-gaapInvestor Glossary-gaapInvestor Glossary-gaapInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

GAAP

The HTML to link to this page
 

GAAP - Generally Accepted Accounting Principles - are a collection of guidelines and practices used by the accounting community. In the US, GAAP standards are set by the Financial Accounting Standards Board (FASB). FASB continually updates GAAP as new accounting issues and concerns arise. Outside the US, the equivalent of GAAP is IAS - International Accounting Standards - which is maintained by the International Accounting Standards Board.

Financial statements submitted to the SEC by publicly traded companies are required to meet GAAP standards. When comparing financial statements from different years, it is important to note any changes in GAAP over the intervening period. Since GAAP is only a set of guidelines, it cannot guarantee financial statements are not fraudulent. If company management provides the auditing firm with incorrect data, the resulting financial statements may be GAAP compliant yet still incorrect.



Rate this GAAP definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: in escrow, wholly-owned subsidiary, risk management, phantom income, class C shares, deferred tax, minority interest, 1031 exchange, command economy, stock market close, VIX, 144a, average price per share, cancelled check, deferred revenue, 401a, 1035 exchange, EBITDA, required rate of return, debt service coverage, option premium, current ratio, margin rate, open position, limit order, reverse mortgage, FICO score, Zero Cost Collar, covered put, ex-dividend, FTSE, real GDP, liquidity ratio, LIBOR, labor relations, balance sheet, implied volatility, Key Rate Duration, irrevocable trust, diluted share, quality assurance, retained earnings, stock split, inflation, APR, ex-dividend date, dividends payable, annual return, per diem


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Home | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2016 Investor Glossary - All rights reserved - Terms of Use