Our network of sites >> talk | feed | free | tech | rock | xbox | homes | learn | game | pods | grab | blog | book | beep | help

GAAP

Mind the GAAP. Or how about we just scrap the GAAP?

Previously: Klez >>
Next: warchalking >>


GAAP is an acronym that stands for Generally Accepted Accounting Principles. It is the set of rules that accountants and auditors use to maintain a responsible chain of coverage when examining a company's books to declare them to be a true and accurate representation of the company's financial health, but it has been altered over the years to be almost meaningless for the average Joe or Josie to understand.

The SEC has, after the Enron/Arthur Andersen debacle, been charged with making GAAP more stringent. Companies had been declaring profits and smaller losses then reality would dictate because they were "following the GAAP rules." Investors like you and I were left in the dark. Hopefully, that will be changing.



Was this helpful? Buy David a Starbucks® Mocha via PayPal!

David loves his Starbucks® mocha. Skim, no whip, please. To easily and painlessly send David a selection from Starbucks® and paying via PayPal, just click on the button below your choice:

Listeners who have bought David a Starbucks® Mocha:

Chuck Craig Becky Bob Chris Dana Dean Gary Heidi Jen Jim Faucett (link?) Kevin Leo Lili Linda Michael Randy Ray Scott Sophie Sophie (II) Warren (link?)

Digg This! article or tag it at del.icio.us


Link to this article from your own website

Just copy this HTML code block. Then, paste it into your own code:





Up To The Minute Bargains



Want an e-Mini-Mall for your site?


If you need help

You can always call in to the show at the number listed above, or send David an email using the link above.


To repeat: You can always call in to the show at the number listed above, or send David email using the link above.