We’re fluent in startup finance. Now you can be too.

Learn more about common financial (and startup) terms here. To learn more about Pilot, fill out the form below.

Oops! Something went wrong while submitting the form.
Glossary
  >  
Generally Accepted Accounting Principles (GAAP)

What are Generally Accepted Accounting Principles (GAAP)?

Generally accepted accounting principles (GAAP) are a set of established accounting rules and standards. Private companies aren’t required to use GAAP, but as your company grows, getting closer to GAAP compliance is important. 

Keeping your books GAAP-compliant can be difficult without an experienced accountant or accounting firm’s help, and many startups don’t follow GAAP standards at the start. But implementing some of the preferred rules early on, such as using double-entry bookkeeping and accrual-based accounting, can make the transition easier. 



Need help with other finance or startup questions?

Pilot provides bookkeeping, CFO, and tax services for literally thousands of startups and growing businesses. We've successfully processed over 10 million transactions for our customers and have unparalleled expertise when it comes to helping businesses succeed.

We're the largest startup-focused accounting firm in the United States, and we'd love to help you. To talk to an expert on our team and find out what Pilot can do for you, please click "Talk to an Expert" below, or email us at info@pilot.com.

See what Pilot can do for you

Get the peace of mind that comes from partnering with our experienced finance team.

Oops! Something went wrong while submitting the form.