The FASB Accounting Standards Codification ® is the single official source of authoritative, nongovernmental U.S. generally accepted accounting principles (GAAP).

Jun 17, 2025 · GAAP is a set of generally accepted accounting principles widely used in the U.S. for financial reporting by corporations and government entities.

Published and maintained by the Financial Accounting Standards Board (FASB), the Accounting Standards Codification outlines the specific and authoritative rules governing GAAP for non …

The standards are known collectively as Generally Accepted Accounting Principles—or GAAP. For all organizations, GAAP is based on established concepts, objectives, standards and conventions that …

GAAP consists of a common set of accounting rules, requirements, and practices issued by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board …

Aug 11, 2025 · GAAP is a set of standardized guidelines, rules, and procedures that companies use to prepare their financial statements. Think of it as the grammar rules for accounting—without them, …

Aug 28, 2025 · GAAP is short for Generally Accepted Accounting Principles. It is a cluster of accounting standards and common industry usage.