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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.
Does a nonprofit have to follow GAAP?
Yes. IN the US non profits are expected to follow GAAP accounting rules. In Europe and expanding to most other parts of the developed world, companies are using IFRS.
What is Importance of GAAP?
GAAP is an acronym for Generally Accepted Accounting Principles, which is the standard guideline and rules that need to be followed in a particular jurisdiction. Many people rely on objective reporting of financial information by companies and other individuals, and the GAAP help ensure that data is unbiased and consistent.
What is the mission of the Human Resources Functional Area?
The missionis to see all departmnts are functioning according to the GAAP rules
Where GAAP is implementing in Pakistan?
gaap
What is a naive?
Naive hedging is where taking a hedge position without taking into consideration the level of hedging required. The optimal hedging position should be such that the expected position from the hedge perfectly offset the underlying risk. Naive hedging (over hedging) could potentially lead to a substantial gain or loss position from hedging.
What is a naive hedge?
Naive hedging is where taking a hedge position without taking into consideration the level of hedging required. The optimal hedging position should be such that the expected position from the hedge perfectly offset the underlying risk. Naive hedging (over hedging) could potentially lead to a substantial gain or loss position from hedging.
Who set accounting rules?
Financial Accounting Standards Board (FASB) set US GAAP (Generally Accepted Accounting Practices)
Does real cost of hedging payable with forward contract equal to nominal cost of hedging minus nominal cost of not hedging?
yes
Who sets US accounting rules?
Financial Accounting Standards Board (FASB) set US GAAP (Generally Accepted Accounting Practices)
What do you mean by gaap?
GAAP is an acronym for Generally Accepted Accounting Principles
How does GAAP affect financial reporting?
How does GAAP affect financial reporting?
