GENERALLY ACCEPTED ACCOUNTING PRINCIPLES Definition

Bookmark and Share

GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) is a recognized common set of accounting principles, standards, and procedures. GAAP is a combination of accepted methods of doing accounting and policy board set authoritative standards.

Learn new Accounting Terms

CPLTD is Current Portion of Long-Term Debt.

CALL PROVISION is a. a provision of a bond or preferred stock issue, listed in its indenture (the formal agreement between the bond issuer and the holder) that allows the issuer to redeem the bond before the maturity date either at par or at a premium to par; or, b. a clause in a mortgage giving the lender the right to demand and receive payment of the balance of the unpaid principal in full under certain conditions. A call provision is similar to an acceleration clause.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.