GAAP has four basic principles.
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The historical cost principle requires companies to account and report based on acquisition costs rather than fair market value for most assets and liabilities.
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The revenue recognition principle requires to record when revenue is realized or realizable and earned, not when cash is received.The way of accounting is called accrual basis accounting.
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The third principle is the matching principle. Expenses have to be matched with revenues as long as it is reasonable doing so.
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The last principle is called the full disclosure principle. Amount and kinds of information disclosed should be decided based on trade-off analysis as larger amount of information costs more to prepare and use it. Information disclosed should be enough to make judgement while keeping costs reasonable.
• مبدأ التكلفة التاريخية يتطلب من الشركات ان تقيد على تكلفة الحيازة وليس على القيمة السوقية لمعظم الأصول والألتزامات
• مبدأ ألأستحقاق ينص على تسجيل الأيرادات عند حدوثها وليس عند إستلام النقد
• مبدأ المقابلة هو مقابلة المصاريف مع الأيرادات لما يخص السنة المالية
• مبدأ ألأعتراف او الأفصاح التام بمصاريف