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.)
Steak is the name of the cut of the meat that is obtained from various sources such as beef, tuna, salmon, pork etc. However, mostly is it a cut of meat from beef. Therefore, beef is a specific meat from cow, whereas steak is a specific cut of meat. Not all cuts of beef can be called steak while all steak is beef. What is the difference between Steak and Beef? â¢ Those who know the difference between pork and bacon can easily tell the difference between beef and steak. While pork is entire meat obtained from the pig, bacon is a special cut from pork. Similarly, whose meat from the cow is beef, while only some cuts from beef are labeled steak and not all cuts.