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	gaap
	GAAP Generally Accepted Accounting Principles (GAAP) is very important to the financial statement. GAAP is a combination of authoritative standards (set by policy boards) and the accepted ways of doing accounting. ... However, when preparing financial statements in accordance with Generally Accepted Accounting Principles (GAAP) there may be times when GAAP standards do not specifically address one’s particular situation, and other times, there might be conflicting standards. ... This line of thought is embedded in the Continuity Concept of GAAP, which simply stated says that evidence to the contrary, a business entity is expected to have a life which will extend into the future. Approximate Word count = 746 Approximate Pages = 3 (250 words per page double spaced)

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