In this episode, we take a look at financial and accounting vocabulary related to the key components of GAAP or Generally Accepted Accounting Principles. GAAP is a set of rules followed by accountants in preparing companies financial statements.
First we’ll hear a short article introducing the vocabulary. Then we’ll go over each word in detail, with some example sentences to show how you can use the words. At the end of the video you’ll have a chance to review and practice your new vocabulary.