특정 관할 구역에서 사용되는 재무 회계 지침의 표준 틀로, 일반적으로 인정된 회계 원칙을 의미함.
A standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as Generally Accepted Accounting Principles.
예문:
"The firm updated its software to ensure full compliance with GAAP."
"GAAP provides a consistent framework for recording complex financial transactions."
"Investors rely on GAAP to compare the financial performance of different corporations."