| Generally Accepted Accounting Principles - GAAP | |
 The common set of accounting principles, standards and procedures that companies use to compile their financial statements. GAAP is a combination of authoritative standards (set by policy boards) and simply the accepted ways of doing accounting. |
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 These are the rules that companies are expected to follow. If a financial statement is not prepared using GAAP principles, be very wary! That said, keep in mind that GAAP is only a set of standards. There is plenty of room within GAAP for unscrupulous accountants to distort figures. So even when a company uses GAAP, you still need to scrutinize its financial statements |
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 A Case Study: Earnings Manipulation And The Role Of The Media - Here we explore why the media focuses on certain earnings manipulation cases in post-Enron Wall Street. U.S. GAAP Website - A comprehensive source of U.S. GAAP information. FASB - The Financial Accounting Standards Board (FASB) sets GAAP in the United States. Summaries and Status of all FASB Statements - Direct from the FASB, these statements are one source of GAAP. CICA.ca - The Canadian Institute of Chartered Accountants (CICA) sets GAAP in Canada. |
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