Читать книгу Cost Accounting For Dummies - Kenneth W. Boyd - Страница 52

Generally accepted accounting principles (GAAP) refer to the rules that accountants must follow when preparing financial statements. The Financial Accounting Standards Board (FASB) is the industry organization that issues GAAP requirements.

The accounting industry’s goal is to generate financial statements that are easier to understand. If every business follows GAAP requirements, the financial statements are comparable between companies. The focus of GAAP is on financial statement users.