A complete list of the legal terms and definitions every attorney, paralegal, and law student needs to know.
Generally Accepted Accounting Principles (GAAP) are the standards under which accountants in the United States provide companies and other entities with financial statements and other documents which analyze financial information. First created by Congress in response to the response to the Stock Market crash of 1929 and the Great Depression, GAAP has been administered by Financial Accounting Standards Board (FASB) since 1973.
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