Accountants who apply GAAP to inventory reserves often use a significant amount of personal judgment.

Generally Accepted Accounting Principles (GAAP) is a set of standards that ensures publicly traded U.S. companies report consistent financial information.

GAAP Basics. GAAP stands for Generally Accepted Accounting Principles. They are the standards and procedures companies commonly use to account for their finances and compile financial statements ...

Why It Is Mandatory for Companies to Abide by GAAP?. Generally accepted accounting principles, or GAAP, are a set of fundamentals for financial record-keeping and reporting that public companies ...

Customized accounting figures are getting a lot of heat from regulators, but spotting them may be the biggest challenge.

Motivated by the debate about globally uniform accounting standards, this study investigates whether firms using U.S. generally accepted accounting principles (GAAP) vis-à-vis international accounting ...