This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
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Generally Accepted Accounting Principles

Principles in financial accounting that serve to assure consistency in financial reporting. GAAP is a type of self-regulation in that members of the financial accounting profession have agreed that these principles will govern their accounting techniques and interpretations.

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Approved for 1 Hour of State Reported CE Credit in AR, AZ, CO, DE, FL, GA, IL, IN, KS, MA, NC, NE, NJ, OK, SC, TN, TX, and UT.