Generally accepted accounting principles, or GAAP, essentially impact every item on a qualifying financial statement. Most companies and organizations follow GAAP when creating financial statements.

This Opinion piece appears in the June 29 print edition of Transport Topics. Click here to subscribe today. Finding quality financing for trucks and trailers recently has become more difficult for ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

Discover the crucial differences between pro forma and GAAP financial statements. Learn why companies use both and the ...

GAAP, which stands for generally accepted accounting principles, is the set of accounting standards followed by most U.S. businesses, not-for-profit organizations, and state and local governments, as ...

Creative use of non-GAAP financial measures has become standard practice in public company disclosures. Management, quite correctly in most cases, often believes that the company’s dry GAAP financial ...

Discover the hidden details in financial footnotes essential for interpreting income statements, balance sheets, and cash ...