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.)
â¢ Skirt steak has more fat than flank steak. â¢ Skirt steak is tender and comes from the belly of the animal. â¢ Skirt steak is also referred to as diaphragm of the animal. â¢ Flank steak is commonly used to make London Broil. â¢ Skirt steak comes from the plate whereas flank steak comes from the adjacent flank in the body of the animal.