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What is the full form of GAAP?

Answers were Sorted based on User's Feedback



What is the full form of GAAP?..

Answer / niranjan

Generally Acceptable Accounting Practices. Though these are
treated as principles, they have no legal validation just
like our Accounting Standards. Those are the practices which
are mentioned as an advice/suggestion to business houses for
their accounting.

Is This Answer Correct ?    0 Yes 1 No

What is the full form of GAAP?..

Answer / sandip mishra

Gernal accounting accepted principle

Is This Answer Correct ?    5 Yes 10 No

What is the full form of GAAP?..

Answer / sunil

gaap ful form genaral acseptence accounting principal

Is This Answer Correct ?    7 Yes 17 No

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3 Answers  


i got a case study in which theie is a chemical company group which has 12 companies in all, few in Europe and few in USA, my question is should i have only 2 COA as per the standard like US GAAP and IFRS or should i have COA based on country location.

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0 Answers   Franklin Templeton, TTC,


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