by
Mostafa Barakat , محاسب رئيسي- رئيس حسابات , مجموعة المعايير العالية ( الطبية والعقارية والمقاولات)
GAAP (generally accepted accounting principles), or simply accounting standards, are the framework for the rules and standards that dictate how financial statements are prepared. GAAP addresses four concepts of financial accounting: 1. Revenue Recognition 2. Measurement 3. Expense (aka The Matching Principle) 4. Full Disclosure
