Mind the GAAP

摘要

The way companies produce annual financial reports is undergoing a significant change. Property investment companies and developers may find their accounts show a different picture as new accounting standards begin to have an impact. When a company produces its annual financial statements it has to follow a set of guidelines to ensure that they comply with generally accepted accounting principles (GAAP). These standards ensure that annual accounts are consistent, and that accounts from different companies can be compared. In theory they provide a level playing field.