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  5. Generally Accepted Accounting Principles

Generally Accepted Accounting Principles

Definition of 'Generally Accepted Accounting Principles'

The set of legal regulations and accounting standards that dictate best practice in constructing company accounts.

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Related Terms

GAAPMedium of ExchangeMoneyNet Present ValueCity CodeThree-tier ApproachAccounting Standards BoardAccruals AccountingARORASBCCACreative AccountingCurrent Cost AccountingBankers AcceptanceFund RaisingUnconditionalityAccount ReceivableAnalystBarber vs Gre (1990)Bear Market

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