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.
Introduction to Accounting Principles. There are general rules and concepts that govern the field of accounting. These general rulesâreferred to as basic accounting principles and guidelinesâform the groundwork on which more detailed, complicated, and legalistic accounting rules are based.