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.
Generally accepted accounting principles, or GAAP for short, are the guidelines that dictate how things are reported in the financial statements, what is reported in the body of the financial statements, and what is disclosed in the notes to the financial statements.