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. Sometimes an ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Accounting principles help hold a company’s financial ...

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 ...

More businesses are beginning to accept cryptocurrencies, including stablecoins, as a form of payment in addition to more traditional methods such as cash and credit card. Properly accounting for ...

The Governmental Accounting Standards Board released a study Monday on utilization of GAAP among state and local governments and found all the states are using GAAP, but only about three-quarters of ...