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.
Best Answer: The simple answer is that they are various cuts of beef which have been given a name by which to identify them. They are each cut from a different area. The sirloin steak is the least expensive and least tender of the premium steaks.It is cut from a lower, mostly muscular area. The new york strip steak is slightly more expensive than the sirloin, but, still reasonably priced.he T-Bone steak is cut from the same area as the new york strip and has a portion of bone attached. The T-Bone has steak on each side of the bone, one side consists of new york strip and the other side of the bone consists of a small portion of filet mignon.