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it is acceptable according to GAAP only in the extraordinary circumstances when forecasting the amount of work completed to date is not possible.
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∙ 10y ago
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What do you mean by gaap?
GAAP is an acronym for Generally Accepted Accounting Principles
What does the acronym GAAP stand for?
GAAP is an acronym for Generally Accepted Accounting Principles. GAAP is a series of basic rules accepted by those within the accounting community to perform accounting tasks.
Is the moving average inventory method GAAP?
Moving average inventory method is not GAAP (generally accepted accounting principles). LIFO (last in, first out) or FIFO (first in, first out) are GAAP. FIFO is the most common method and easy to compute; however LIFO may be used but is much more complicated to compute unless your businesses computer system computes the LIFO computation.
What is the purpose of GAAP?
Generally Accepted Accounting Principles, or GAAP, are the standards used by accountants. GAAP ensures that all companies report financial information in a consistent manner.
Full form of GAAP?
In Accounting/Finance arena GAAP stands for Generally Accepted Accounting Principals. Eevery company has to balance their books by GAAP standards and regulations.
Is the Percentage-Of-Completion Method GAAP?
yes it is
What does GAAP stand for?
Generally Accepted Accounting Principles. There are different types of GAAP in todays world. For example, there is U.S. GAAP (generally accepted acccounting principles in the United States) and U.K. GAAP (generally accepted accounting principles in the United Kingdom).
What do you mean by gaap?
GAAP is an acronym for Generally Accepted Accounting Principles
What does the acronym GAAP stand for?
GAAP is an acronym for Generally Accepted Accounting Principles. GAAP is a series of basic rules accepted by those within the accounting community to perform accounting tasks.
Is the moving average inventory method GAAP?
Moving average inventory method is not GAAP (generally accepted accounting principles). LIFO (last in, first out) or FIFO (first in, first out) are GAAP. FIFO is the most common method and easy to compute; however LIFO may be used but is much more complicated to compute unless your businesses computer system computes the LIFO computation.
A common set of accounting standards and procedures are called?
GAAP - Generally Accepted Accounting Principles
What does non GAAP mean?
GAAP stands for Generally Accepted Accounting Principles. Non-GAAP means that the financial statements or financial measures have been prepared on a basis other than those generally accepted.
What does non-GAAP mean?
GAAP stands for Generally Accepted Accounting Principles. Non-GAAP means that the financial statements or financial measures have been prepared on a basis other than those generally accepted.
The GAAP are the generally accepted principles in what field?
Accounting
What are generally accepted accounting guidelines referred to as?
GAAP
What is the purpose of GAAP?
Generally Accepted Accounting Principles, or GAAP, are the standards used by accountants. GAAP ensures that all companies report financial information in a consistent manner.
Full form of GAAP?
In Accounting/Finance arena GAAP stands for Generally Accepted Accounting Principals. Eevery company has to balance their books by GAAP standards and regulations.
