What does GAAP mean in Accounting?

This page is about the meanings of the acronym/abbreviation/shorthand GAAP in the Business field in general and in the Accounting terminology in particular.

Generally Accepted Accounting Principles

Business » Accounting


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What does GAAP mean?

generally accepted accounting principles, GAAP(noun)
a collection of rules and procedures and conventions that define accepted accounting practice; includes broad guidelines as well as detailed procedures

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"GAAP." Abbreviations.com. STANDS4 LLC, 2015. Web. 28 Mar. 2015. <http://www.abbreviations.com/term/48686>.