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.
The Importance of Accounting Standards. Accounting standards in the United States appear in the form of the generally accepted accounting principles, a set of standards, guidelines and procedures that are used when accounting for the affairs of most governmental and non-governmental bodies.