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GAAP vs accounting principle

accounting principle vs GAAP

GAAP and accounting principle both are nouns.

Word NounAdjectiveVerbAdverb
GAAP Yes No No No
accounting principle Yes No No No
GAAP (noun) accounting principle (noun)
a collection of rules and procedures and conventions that define accepted accounting practice; includes broad guidelines as well as detailed procedures a principle that governs current accounting practice and that is used as a reference to determine the appropriate treatment of complex transactions
Difference between GAAP and accounting principle

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