GAAP standards provide uniform financial reporting, critical for investors and auditors comparing companies. Non-GAAP results adjust GAAP figures to highlight specific financial aspects, but they ...

Take a deeper look into the development and purpose of the generally accepted accounting principles, also known as GAAP, which are used for financial reporting.

J.P. Nodier / Getty Images Generally accepted accounting principles (GAAP) require that all inventory reserves be stated and valued using either the cost or the market value method, whichever is ...

Accrual accounting is the GAAP-preferred practice of recording all revenues and expenses when they occur, even if payment has not yet been sent or received. In business, all financial transactions ...