The length of validity for U.S. passports depends on the age of the passport holder when the passport was obtained and the type of passport issued.
What are 'Generally Accepted Accounting Principles - GAAP'. Generally accepted accounting principles (GAAP) are a common set of accounting principles, standards and procedures that companies must follow when they compile their financial statements.
A change in accounting principle is a change that occurs as the result of new information or additional experience. 2. Errors in financial statements result from mathematical mistakes or oversight or misuse of facts that existed when preparing the financial statements.