GAAP: What Are ‘Generally Accepted Accounting Principles’?

Generally accepted accounting principles — or GAAP (pronounced “gap”) for short — might not be your top priority when you’re running your business. After all, you’ve hired an accountant so you wouldn’t have to deal with the nitty-gritty of your business’s accounting. Right? Well, theoretically, yes. But knowing GAAP accounting principles, or at least the…

https://www.nerdwallet.com/article/small-business/gaap-generally-accepted-accounting-principles

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