The objective of this statement is to identify—in the context of the current governmental financial reporting environment—the hierarchy of generally accepted accounting principles (GAAP). The “GAAP ...

All public companies in the U.S. are required to use generally accepted accounting principles (GAAP). Financial statements created ... with non-GAAP numbers. For example, one-time costs suddenly ...

Reviewed by Andy Smith Fact checked by Vikki Velasquez Financial Accounting: An Overview Financial accounting is the process by which an organization's revenue, receivables and expenses are collected, ...

Reviewed by Amy Drury Fact checked by Suzanne Kvilhaug Accrual Accounting Methodology Accrual accounting is the preferred approach for companies reporting their financial statements under generally ...