--%>
Assignment Help - homework help

Explain Generally Accepted Accounting Principles

Generally Accepted Accounting Principles (GAAP): The accounting rules, principles, conventions, and procedures which are employed for accounting and financial reporting. The GAAP for governments are put by the Governmental Accounting Standards Board (that is, GASB), the accounting and financial reporting standards setting body for local and state governments.

   Related Questions in Finance Basics

  • Q : What is a Category Category: A grouping

    Category: A grouping of related kinds of expenditures, like Personal Services, Reimbursements, Operating Expenses and Equipment, Special Items of Expense, Un-classified, Local Costs, Capital Costs, and inner Cost Recovery.

    		•
  • Q : What is Personal Services Personal

    Personal Services: It is a category of expenditure that comprises such objects of expenditures as the payment of wages and salaries of state employees and employee advantages, comprising the state's contribution to the Public Employees' Retirement Fun

    		•
  • Q : Equilibrium GDP for this hypothetical

    Normal 0 false false

  • Q : Fixed Income I need solution by Tuesday

    I need solution by Tuesday evening March 18, 6 pm EST

    		•
  • Q : Describe inventory is sometimes thought

    Inventory is sometimes thought of as an essential evil. Describe. Inventory ties up funds and these are not earning an explicit return. Some inventory is frequently necessary, however, as companies attempt to hold the lowest acceptable amount.

    		•
  • Q : Define CALSTARS CALSTARS : The acronym

    CALSTARS: The acronym for the California State Accounting and Reporting System that is the state's primary accounting system. Most of the departments presently use CALSTARS.

    		•
  • Q : Describe the sales forecasting procedure

    Describe the sales forecasting procedure.This is a group effort. Usually sales and marketing personnel provide assessments of demand and the competition. Usually, production personnel provide estimates of manufacturing capacity and other product

    		•
  • Q : Retiring an internally held debt and

    Normal 0 false false

  • Q : Better risk measure in evaluating risk

    Why is the coefficient of variation a better risk measure to employ than the standard deviation while evaluating the risk of capital budgeting projects? The coefficient of variation is a better risk measure than the standard deviation alone sinc

    		•
  • Q : Describe why measure projects risk as

    Describe why we measure a project's risk as the change in the CV.We measure a project's risk since the change in the coefficient of variation since this focuses on the change in the riskiness of the firm's existing portfolio.

    		•