Investor Glossary-generally accepted accounting principlesInvestor Glossary-generally accepted accounting principlesInvestor Glossary-generally accepted accounting principlesInvestor Glossary-generally accepted accounting principlesInsightful 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

Generally Accepted Accounting Principles

The HTML to link to this page
 

Generally Accepted Accounting Principles (GAAP) are the rules and practices under which financial statements are prepared. There is no single resource for Generally Accepted Accounting Principles . Generally Accepted Accounting Principles comprise an enormous set of documents and procedures developed over many years from numerous sources. Generally Accepted Accounting Principles includes pronouncements of the Financial Accounting Standards Board (FASB), the current accounting rule-making body, and opinions of its predecessor, the Accounting Principles Board. Generally Accepted Accounting Principles includes certain publications of the American Institute of Certified Accountants (AICPA) and rules of the Securities and Exchange Commission (SEC). Generally Accepted Accounting Principles also encompasses the accounting practices of individual industries.

Generally Accepted Accounting Principles in the U.S. tend to be more specific and rule-laden than those overseas. Nevertheless, accountants enjoy much leeway in applying Generally Accepted Accounting Principles to accounting problems. Some argue the complexity of financial statements is due to the complexity of Generally Accepted Accounting Principles. But others say the intricacies of Generally Accepted Accounting Principles reflect the difficulty of applying standard accounting rules to the wide-ranging U.S. economy.



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


Home | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
Investor Glossary Index >>> # 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 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
Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
©2004-2014 Investor Glossary - All rights reserved - Terms of Use