The length of validity for U.S. passports depends on the age of the passport holder when the passport was obtained and the type of passport issued.
What are 'Generally Accepted Accounting Principles - GAAP'. Generally accepted accounting principles (GAAP) are a common set of accounting principles, standards and procedures that companies must follow when they compile their financial statements.
If your company hopes one day to issue stock or participate in mergers and acquisitions, knowledge of generally accepted accounting principles (GAAP) is critically important. While responsibility for GAAP falls on accountants, a general familiarity with the system and its pros and cons can help you hire excellent financial services and may ultimately affect your company's long-term sales and stock valuation potential.