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1、GAAP通用会计准则（GAAP general accounting standards）GAAPAsk for the editors encyclopedia cardGenerally Accepted Accounting all is the Generally Accepted Accounting Principles, the United States in 1937 Accounting program committee (CAP) published the first study announcement, created by the government orga
2、n or trade organization issued general general Accounting.directoryAn overview of theBasic assumptions of economic entitiesMonetary unit hypothesisThe principle of full disclosureAssumption of time periodAccrual basis accountingPrinciple of revenue recognitionPrinciple of matchingPrinciple of costTh
3、e principle of continuous operationRelevance, reliability, and consistencyPrinciple of prudencePrinciple of importanceAn overview of theBasic assumptions of economic entitiesMonetary unit hypothesisThe principle of full disclosureHypothesis of time periodAccrual basis accountingPrinciple of revenue
4、recognitionPrinciple of matchingPrinciple of costThe principle of continuous operationRelevance, reliability, and consistencyPrinciple of prudencePrinciple of importanceExpand the overview of this paragraphGenerally refers to the general accounting principles applicable to various companies in diffe
5、rent industries, ranging from basic concept, basic hypothesis of the basic principle of accounting to prepare financial statements on the specific accounting measurement and the provisions of the procedures and methods. Generally, a countrys accounting system refers to general general accounting. Ge
6、nerally, it can be divided into international and regional, such as the US GAAP China, which is the new accounting standard issued in 2006, which is usually formulated by the special accounting standards committee. Accountants use generally accepted accounting principles (GAAP) to guide them to reco
7、rd and report financial information. Gaap consists of a broad set of principles established by the accounting and securities and exchange commission (SEC). Two laws, the securities act of 1933 and the securities exchange act of 1934, gave the securities and exchange commission the power to establish
8、 reports and open rules. However, the securities and exchange commission usually only supervises work, and the financial accounting standards board and the government accounting standards board (GASB) establish these rules. The government accounting standards board sets accounting standards for stat
9、e and local governments.Edit the basic assumptions of this paragraphThe current set of principles used by accountants depends on some basic assumptions. The following is the introduction of basic assumptions and principles, considered to be generally accepted accounting principles and applicable to
10、most financial statements. In addition to these concepts, there are more technical standards that accountants must follow when preparing financial statements.The assumptions of the economic entityEach economic entity must maintain separate financial records. Economic entities, including businesses,
11、governments, school districts, churches, and other social organizations. Although accounting information from many different entities can be consolidated for financial reporting requirements, each economic activity must be associated with a specific entity and recorded. In addition, business records
12、 must not include owners personal assets or liabilities.Monetary unit hypothesisAn accounting record of an economic entity only includes transactions that can be quantified. Some economic activities that affect the company, such as hiring a new chief executive or introducing new products, are not ea
13、sily quantified as monetary units and therefore will not appear in the companys accounting records. In addition,Accounting records must be recorded in a stable currency. American companies, usually, use the dollar for this purpose.The principle of full disclosureFinancial statements usually provide
14、information about the companys past performance. However, ongoing litigation, incomplete transactions, or other circumstances may have an imminent and significant impact on the companys financial position. The full disclosure principle requires financial statements including disclosure of such infor
15、mation. Use a footnote to make a financial statement to convey this information and explain the companys policy on the business transactions used to record and report.Hypothesis of time periodMost businesses have been around for a long time, so they have to report the results of their business activ
16、ities for a period of time. Depending on the type of report, the period of use may be one day, one month, one year, or any other period of determination. The question of how to record certain transactions as a result of the time period. For example, how should an accountant report a cost of equipment for five years? The
