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Insurance Definition: GENERALLY ACCEPTED ACCOUNTING PRINCIPLES/GAAP

By Compuquotes Team on March 27th, 2008

GENERALLY ACCEPTED ACCOUNTING PRINCIPLES/GAAP:

Definition:

  • Generally accepted accounting principles (GAAP) accounting is used in financial statements that publicly-held companies prepare for the Securities and Exchange Commission. (See Statutory accounting principles / SAP)

Information provided by Insurance Information Institute

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