GAAP (Generally Accepted Accounting Principles): Pertains to a common set of accounting rules and standards for financial reporting that public companies in the United States must follow. These principles are designed to ensure consistency, reliability, and comparability of financial statements. In the context of IT and cybersecurity firms, GAAP guides the recording and reporting of financial transactions, including the capitalization and expense recognition of software development costs, purchase of IT equipment, and investments in cybersecurity infrastructure.
Categories: CC D1: Security Principles | CCSP D6: Legal - Risk and Compliance | CISM D1: Information Security governance | CISSP D1: Security and Risk Management | Security+ D5: Security Program Management and Oversight | SSCP D1: Security Concepts and Practices
« Back to Glossary Index