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.
Accounting for a business represents a recording of the financial transactions of a business. The Generally Accepted Accounting Principles, or GAAP, is the required method of accounting for public companies. Tax accounting can be similar, although taxpayers have far more options available.