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.
One of the duties of an auditor is to make sure the consistency principle is being followed because, otherwise, any change might make interpretation of the financial data a futile exercise. Also called consistency concept. See also accounting concepts. Basic accounting concept that once an accounting method is adopted, it should be followed consistently from one accounting period to the next.