Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

  

English definition of “GAAP”

GAAP

noun [plural]     /ɡɑːp/ ACCOUNTING
abbreviation for Generally Accepted Accounting Principles : in the US, the rules that companies must follow when preparing financial accounts and reports : Under GAAP, revenue from a software sale should not be recognized until a copy of the software has been delivered to the customer . mandated / required by GAAP in accordance / conformity with GAAP
(Definition of GAAP noun from the Cambridge Business English Dictionary © Cambridge University Press)
Focus on the pronunciation of GAAP

Definitions of “GAAP” in other dictionaries

Word of the Day

best man

a male friend or relation of the bridegroom who stands with him and helps him during a marriage ceremony

Word of the Day

Blog

Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More