What the “GAAP” Does

If a company releases its financial statements to the public, it is required to follow Generally Accepted Accounting Principles, called GAAP, in the preparation of those statements. “GAAP” consists of three important sets of rules: Basic accounting principles and guidelines. Detailed rules and standards issued by the Financial Accounting Standards Board (FASB) and its predecessor [...]

By |2018-03-15T15:04:48+00:00January 29th, 2017|Blog, News|0 Comments

Bridging the GAAP

Financial reporting means balance sheets, profit and loss statements, financial notes, and disclosures, and it has its own language.  It’s the language used to communicate information about the financial condition of a company, be it a not-for-profit business, a state or local government, the guidelines are found in the GAAP: the Generally Accepted Accounting Principles [...]

By |2017-01-24T14:17:37+00:00January 18th, 2017|Blog, News|0 Comments
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