GAAP Accounting Rules

What does GAAP Stand for? GAAP in accounting is an acronym for Generally Accepted Accounting Principles. GAAP accounting rules are used to regulate accounting

Last modified April 9th, 2019 by Michael Brown
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Inventory Shrinkage Definition

What is Inventory Shrinkage? When a business takes a physical count of its inventory there is normally an unexplained difference between the physical count

Last modified May 30th, 2018 by Michael Brown
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Management Accounting

What is Management Accounting? The term management accounting or managerial accounting relates mainly to the preparation of financial statements and other accounting information for

Last modified August 26th, 2016 by Michael Brown
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Financial Accounting

What is Financial Accounting? The term financial accounting relates mainly to the preparation of financial statements for presentation to third parties such as investors,

Last modified August 26th, 2016 by Michael Brown
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Accounting

The accounting definition is that it is a set of concepts and methods used to measure and report financial information about a business. Accounting

Last modified November 14th, 2017 by Michael Brown
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Goodwill

What is Goodwill? Goodwill is the amount by which the price paid for a business exceeds the fair value of the identifiable net assets

Last modified November 21st, 2018 by Michael Brown
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Indirect Costs

What are Indirect Costs? Indirect costs or indirect expenses, are costs which cannot be traced directly to a particular cost object. The cost object

Last modified February 28th, 2018 by Michael Brown
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Paid Up Capital

What is Paid Up Capital? Paid up capital is the amount of capital for which a business has received payment from shareholders. Paid Up

Last modified May 30th, 2018 by Michael Brown
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