GAAP is a set of generally accepted accounting principles widely used in the U.S. for financial reporting by corporations and government entities.

Definition of a GAAP Audit. All publicly traded companies must annually disclose their financial performance to the public: GAAP audits ensure that these disclosures are valid.

Definition of Capital Expenditure Under GAAP. A capitalized expense is one that becomes an asset to your company and is typically a much larger expense. For example, ...

Learn about inventory costing differences between generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS).

“Non-Recurring” is not defined in GAAP. A commonly accepted definition is found in the SEC’s rules and regulations regarding the use of non-GAAP financial measures in public filings.

A new 23-page Technical Question & Answer (TQA) document issued by the AICPA will help preparers and practitioners determine if their client is a public business entity under the updated U.S. GAAP ...

GAAP stands for generally accepted accounting principles that public companies must follow. Learn what is considered GAAP vs. non-GAAP and why they're important.

How Cryptocurrencies Are Classified On Financials. According to the white paper issued by the AICPA, crypto assets can not be classified as “cash or cash equivalents” on GAAP financial ...