Royal mail will tell people there is a letter/package to collect and will then inform them that there was insufficient postage on the item when they go to collect it.oyal mail will tell people there is a letter/package to collect and will then inform them that there was insufficient postage on the item when they go to collect it.
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. GAAP is a combination of authoritative standards (set by policy boards) and the commonly accepted ways of recording and reporting accounting information. GAAP improves the clarity of the communication of financial information.
BREAKING DOWN 'Accounting Standard'. An accounting standard is a guideline for financial accounting, such as how a firm prepares and presents its business income and expense, assets and liabilities. The Generally Accepted Accounting Principles is comprised of a large group of individual accounting standards.EFINITION of 'Accounting Standard'. A principle that guides and standardizes accounting practices. The Generally Accepted Accounting Principles (GAAP) are a group of accounting standards that are widely accepted as appropriate to the field of accounting.