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Real Estate Glossary

Generally Accepted Accounting Principles.

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Written by Luis Escobar

Issued by the Financial Accounting Standards Board (FASB), GAAP is the ordinary set of accounting standards, principles, and procedures in which public companies in the U.S. must oblige to when their accountants assemble their financial statements. The aim of GAAP is to enhance the consistency, clarity, and comparability of the communication of certain financial information.

Issued by the Financial Accounting Standards Board (FASB), GAAP is the ordinary set of accounting standards, principles, and procedures in which public companies in the U.S. must oblige to when their accountants assemble their financial statements. The aim of GAAP is to enhance the consistency, clarity, and comparability of the communication of certain financial information.

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Luis Escobar

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