What is a GAAP Module?
A GAAP module is accounting software functionality designed to support compliance with Generally Accepted Accounting Principles, the financial reporting standards used primarily in the United States. This module provides chart of accounts structures, transaction templates, reporting formats, and automated controls aligned with GAAP requirements.
Features include revenue recognition rules, expense matching, inventory valuation methods, depreciation calculations, and financial statement generation formatted per GAAP standards. Organizations operating under GAAP rely on these modules to ensure proper accounting treatment, maintain compliance, support audit requirements, and produce compliant financial statements. GAAP modules may operate alongside IFRS modules for multinational organizations requiring multiple reporting standards.
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