Fidelity Investments - GAAP



Fidelity Investments - GAAP

The Generally Accepted Accounting Principles are Financial Reporting rules or general rules and standards that guide and develop benchmarks for the measurement of assets and information of the assets of an entity. GAAP signifies the parameters for the preparation of financial statements and is based on uniform methods of accounting technique. There are different principles regarding GAAP, as defined below:

Entity

Real economic

Unit of measure

Going Concern

Valuation at cost

Period of time

Earned

Objectivity

Prudence

Uniform

Significance and Relative Importance

Revelation enough

The GAAP are guidelines that all accountants must follow when preparing financial statements for different organization and companies. Each Organization listed above creates ...