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.
Professions have standards for the people in their ranks, and accounting is no exception. Accountants follow generally accepted accounting principles, usually abbreviated as GAAP. Professionals in the private and public sectors use GAAP to prepare financial documents according to a common standard.