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Friday, May 06, 2016
What might GAAP stand for?
Strictly speaking GAAP stands for Generally Accepted Accounting Principles but I prefer the suggestion that GAAP is the difference between accounting theory and accounting practice.
Or could it stand for one of the following?
Greatly Anticipated Auditing Performance
Grossly Aggressive Accountant's Punches
Gently Activating Accountant's Pencil
Generally Accidental Accounting Practices