Generally accepted accounting principles, or GAAP, essentially impact every item on a qualifying financial statement. Most companies and organizations follow GAAP when creating financial statements.

This Opinion piece appears in the June 29 print edition of Transport Topics. Click here to subscribe today. Finding quality financing for trucks and trailers recently has become more difficult for ...

Generally accepted accounting principles are a set of 10 accounting standards and guidelines created and maintained by the U.S. Financial Accounting Standards Board. Since the FASB established GAAP ...

Discover the crucial differences between pro forma and GAAP financial statements. Learn why companies use both and the ...

If you run a small business, you may not know much about the Generally Accepted Accounting Principles (GAAP). After all, GAAP standards apply mainly to publicly traded companies, so these rules don’t ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

Discover the hidden details in financial footnotes essential for interpreting income statements, balance sheets, and cash ...