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What Does Statutory Accounting Principles - SAPMean?
A set of accounting regulations prescribed by the National Association of Insurance Commissioners for the preparation of an insuring firm's financial statements.
Investopedia explains Statutory Accounting Principles - SAP
Filings prepared using SAP are submitted to individual state regulatory bodies; SAP are regarded as more regulatory and conservative than the GAAP method of preparing financial statements.
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What do you mean by gaap?
GAAP is an acronym for Generally Accepted Accounting Principles
How does GAAP affect financial reporting?
How does GAAP affect financial reporting?
When was GAAP established?
In 1992, the Auditing Standards Board established the GAAP hierarchy.
What is the purpose of GAAP?
Generally Accepted Accounting Principles, or GAAP, are the standards used by accountants. GAAP ensures that all companies report financial information in a consistent manner.
Full form of GAAP?
In Accounting/Finance arena GAAP stands for Generally Accepted Accounting Principals. Eevery company has to balance their books by GAAP standards and regulations.
