The Generally Accepted Accounting Principles exist to ensure that American accountants are using the same or almost the same standards so that comparison of financial statements between or within a company is easy and accurate. They also promote transparency in accounting. The GAAP are set by the FASB.
According to the FoodTV Encyclopedia for Delmonico Steak, the Delmonico steak is a boneless top loin steak, which is also called a New York strip steak and a Kansas City strip steak. (With the bone in, it is usually called a club steak.)
Whether you are going out for a steak dinner or cooking steaks at home, there are usually three choices at the high end: beef tenderloin, rib-eye steak and what is known colloquially nationwide as New York strip, as in, âIâll have the New York.â (In Kansas City, though, when you order a strip steak, itâs short for Kansas City strip.)