GAAP
4
6.9
- noun
- /ɡæp/
- Specialized
:
PCGA
- The auditors' procedures affect managers' reporting decisions because financial statement presentations must comply with GAAP.
- U.S. GAAP
- accounting principles (GAAP)
- comply with GAAP
Examples
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In the study's final stage, prototype-system retrievals are tested for conformity with GAAP and compared to a keyword search for precision.
Academic text (2000) -
Of course, to understand this trend, you really need to understand GAAP and accounting.
Blog text (19) -
My point is that GAAP does not accurately reflect the state of a business.
Blog text (26) -
People have estimated the deficit using GAAP accounting, and it is about $5 trillion a year.
Blog text (12) -
When Rich was the equity strategist at Merrill, he always focused on GAAP reported earnings.
Blog text (34) -
Regarding ROE, GAAP financial statements do not represent the true economic state of a business.
Blog text (26) -
Companies must prepare their financial statements in accordance with GAAP to ensure consistency and transparency.
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Investors often analyze GAAP earnings to make informed decisions about a company's financial health.
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The auditor confirmed that the financial reports were compliant with GAAP standards.
Synonyms
1
3.7
A set of rules accountants use to prepare financial reports
Surface Forms
Etymology
GAAP comes from the first letters of the phrase Generally Accepted Accounting Principles. It is like a 'rulebook' for accountants because 'principles' means 'rules' about how to make financial reports, so saying follow GAAP means follow those agreed rules.