GAAP
Generally accepted accounting principles for a defined jurisdiction, entity type, and reporting period, including U.S. GAAP frameworks.
Accounting standards and rules covering GAAP, IFRS, IAS, SFAS, accounting directives, and reporting-rule comparisons.
Accounting standards determine when financial statement items are recognized, how they are measured, where they are presented, and what the notes must disclose. The relevant rules depend on the reporting framework, entity type, jurisdiction, regulator, and effective date.
Use GAAP for the structure of generally accepted accounting principles, IFRS for international accounting standards, and GAAP vs. IFRS when a reporting difference affects comparison. Topic-specific pages such as IFRS 16 explain how a framework applies to a particular transaction.
Do not infer a current requirement from a standard’s title or publication date alone. Verify scope, paragraph-level guidance, amendments, transition provisions, local adoption, significant judgments, and the reporting period before drawing an accounting or investment conclusion.
These pages are educational and do not provide accounting, audit, legal, regulatory, tax, valuation, or investment advice.
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Generally accepted accounting principles for a defined jurisdiction, entity type, and reporting period, including U.S. GAAP frameworks.
GAAP vs. IFRS compares the U.S. and international financial-reporting frameworks and their analytical effects.
International accounting standards governing financial statement recognition, measurement, presentation, and disclosure where jurisdictions adopt or permit them.
The IFRS lease accounting standard governing lease identification, right-of-use assets, lease liabilities, expenses, and disclosures.