GAAP Tag

Not all companies follow U.S. generally accepted accounting principles (GAAP). Many smaller businesses, for example, have adopted the American Institute of CPAs’ Financial Reporting Framework for Small and Medium-Sized Entities because it is easier to follow. Other businesses may use non-GAAP measures because they do...

Most businesses report financial performance using GAAP. But the income-tax-basis format can save time and money for some private companies. Here is information to help you choose the financial reporting framework that will work for your situation. The basics GAAP is the most common financial reporting standard...