Answer / vinay

Dear its a GAAP! not GAPP..

i.e Generally Accepted Accounting Principles

Answer / guest

Generally Accepted Accounting Principles

Answer / madesh

Dear how can u ask a wrong question it should be GAAP

Answer / sreedhar reddy

The common set of accounting principles, standards and
procedures that companies use to compile their financial
statements. GAAP are a combination of authoritative
standards (set by policy boards) and simply the commonly
accepted ways of recording and reporting accounting
information.

Answer / abdullah amer

It is not GAPP.
It is GAAP.

GAAP:- Are certain rules procedures and conventions which
are known as Generally Accepted Accounting Principles and
are known as concept and conventions of accounting.

Answer / kalluri siva

dear dude its not GAPP, its GAAP: Generally Accepted
Accounting Principles

Answer / sandeep

Generally Accepted Accounting principles.

Answer / vamshee

I'm not an accounting professional. But, I did a bit of googling to look up what is GAPP is because I came across the term in a biz article. Now for the meaning:
As per the book Financial Accounting By Rajasekaran V.(available on Google books), the term is expanded as Generally Accepted Accounting Principles but is abreviated as GAPP. Ofcourse why it is done so is beyond me. There are also tons pages on the web that use the abbreviation GAAP for the same thing. I guess the original poster was like me, who just wanted to know what it is. So go easy on him and stop bashing him for asking the "wrong question".

Answer / lakshmi

GAAP is short for Generally Accepted Accounting Principles. GAAP is a cluster of accounting standards and common industry usage that have been developed over many years. It is used by organizations to: Properly organize their financial information into accounting records; Summarize the accoun.

Answer / balu

it stands for general accepted accounting principle

journal entry of outstanding

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