Key Financial Reporting Requirements Under GAAP Explained

Discover the three essential financial statements required by GAAP: income statement, balance sheet, and cash flow statement, ...
Accounting Today

AICPA and XBRL US Offer XBRL GAAP Certificate

To address the market demand for training in Extensible Business Reporting Language, or XBRL, the American Institute of CPAs and XBRL US, the nonprofit consortium for XBRL business reporting standards ...
Houston Chronicle

What Steps Can a Company Take to Make Sure That It Is Adhering to GAAP?

Generally accepted accounting principles, referred to as GAAP, represent a set of standards and guidelines for financial accounting and reporting for businesses and other organizations. GAAP serves to ...
Houston Chronicle

For GAAP Do You Have to Switch to Straight-Line Instead of Double-Declining?

The GAAP approves four different methods for depreciating business assets: the straight-line method, the units of production method, the declining balance method and the sum-of-the-year's-digits ...
Seeking Alpha

Generally Accepted Accounting Principles (GAAP)

Generally accepted accounting principles, known as GAAP, are a standard set of guidelines followed by US accountants and corporations. Since publicly traded companies are required to report GAAP ...