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GAAP - Generally Accepted Accounting Rules

The Generally Accepted Accounting Principles, or GAAP for short, are a set of accounting rules used to standardize the reporting of financial statements in the United States. Understanding GAAP can help you make better investing decisions.

Manufacturing Earnings with a Waive of the Pen
This morning, I was reading through the annual report of UPS, one of the largest and most profitable firms in the world, when something caught my attention. It seemed like a perfect opportunity to teach the readers of this site how small changes in accounting can substantially increase (or decrease) net income without changing a company’s...

Looking Beyond the Financial Statements
Accounting and financial statements are the language of business. Still, as Charlie Munger points out, you need to look beyond the accounting and financial statements and into the underlying opportunities and risks a business faces.

Looking Past the Numbers - The Limitation of the Debt to Equ
You've probably heard portfolio managers say, "look beyond the accounting numbers and instead focus on economic reality." This article illustrates how one of the most popular financial metrics, the debt-to-equity ratio, can sometimes make an investment appear much riskier than it actually is.

Revenue Recognition Methods
The method of revenue recognition management uses for the income statement can dramatically influence the way the financial reports look to investors. Here are five revenue recognition methods you should know.

Adjusting Pension Assumptions to Manipulating Earnings
By adjusting pension assumptions, management can manipulate earnings and overstate profit on the income statement. This article discusses how the investor can spot suspicious pension adjustments.

Chartered Accountants of Canada
This body sets the GAAP rules and regulation for Canada.

Comprehensive United States GAAP Resources
A site dedicated to GAAP in the United States. Offers information on APB's opinions, and Generally Accepted Accounting Principles books.

Financial Accounting Standards Board
The FASB is the body that establishes the standards for GAAP in the United States. The official homepage is a valuable resource for anyone researching a specific accounting concept.

GAAP Accounting Books
A list of accounting books focusing on the rules of GAAP in the United States.

GAAP in Australia
The site for GAAP in Australia. Allows users to sign up for Australian GAAP updates via email.

GAAP [Generally Accepted Accounting Principles] Definition
A definition of the accounting acronym GAAP.

Guide to Financial Statements
Financial statements are the report card of business. Whether you are a new investor, a small business owner, a manager, an executive, a non-profit director, or just trying to keep track of your personal finances, you need to understand how to read, analyze, and create financial statements so you can get a full and accurate understanding how much money their is, how much debt is owed, the income…

How CMS Energy Fabricated $4.4 Billion In Revenue
CMS Energy has come under fire recently for round tripping, a tactic designed to artificially inflate revenue. Learn how it happened and what is being done to make sure it doesn't happen again.

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