Trump's $250M fraud trial hinges on whether he followed generally accepted accounting principles. In an effort to keep our readers awake, we asked two accountant-comedians to explain the wonkiness.

Discover the three essential financial statements required by GAAP: income statement, balance sheet, and cash flow statement, ensuring accurate financial reporting.

Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals, and costing formulas.

If you run a small business, you may not know much about the Generally Accepted Accounting Principles (GAAP). After all, GAAP standards apply mainly to publicly traded companies, so these rules don’t ...

The FASB also announced earlier this month the availability of the 2025 DQC Rules Taxonomy (DQCRT) and 2025 GAAP Meta Model Relationships Taxonomy (MMT), which together with the GRT, SRT and the EBPT ...

When you read financial statements, you may see GAAP vs. non-GAAP figures reported. All public companies in the U.S. are required to use generally accepted accounting principles (GAAP). Financial ...

KraftCPAs Member Tracy Thomas writes that we should soon have a decision from the Financial Accounting Foundation on a recommendation by a blue-ribbon panel to develop a set of accounting standards ...

When a company or individual makes an investment, the obvious goal is for that investment to increase in value over time. However, until the investment is sold, these capital gains are unrealized -- ...

What Are Generally Accepted Accounting Principles (GAAP)? Your email has been sent Understanding GAAP is essential for anyone involved in finance or accounting. Learn the key principles and their ...