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GAAP vs accounting standard

accounting standard vs GAAP

GAAP and accounting standard both are nouns.

Word NounAdjectiveVerbAdverb
GAAP Yes No No No
accounting standard Yes No No No
GAAP (noun) accounting standard (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 standard

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