Examlex
Which of the following sections of a long formal report may be optional?
Operating
Pertains to the regular, ongoing activities of a business that are involved in the production or sale of goods and services.
GAAP
Generally Accepted Accounting Principles; a framework of accounting standards, rules and procedures defined by the professional accounting industry, used to compile financial statements.
FASB
The Financial Accounting Standards Board, an organization that establishes financial accounting and reporting standards in the United States.
Financial Accounting
The field of accounting focused on the summary, analysis, and reporting of financial transactions pertaining to a business, leading to the creation of financial statements.
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