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.
Strip steak. Grilled Kansas City strip steak topped with onions and mushrooms. The strip steak, also called a New York strip (only outside New York) or a Kansas City strip steak (US), or a sirloin steak (UK/AU/NZ/ZA), is a cut of beef steaks from the short loin from a cow.
Where The New York Strip is Located. The Strip is harvested from the âshort loinâ section of a beef. The tenderloin section extends into the short loin. Thatâs why the T-bone cut has both a strip steak and a piece of tenderloin filet. A strip steak without the bone is called a âNew York Strip Steakâ. When a bone is left attached to the strip, it is either called a âBone-in New Yorkâ or sometimes a âKansas City Strip. Mostly the strip is known by its most popular name of New York Strip. But sometimes itâs simply called a Strip Steak.