Answer:
-GAAP constraints and guidelines
Explanation:
GAAP stands for Generally Accepted Accounting Principles. GAAP is comprised of detailed collections of broad concepts and practices that represent the best accounting practices. The GAAP represents accounting practices that have developed over time. They are generally accepted and have been adopted across the accounting profession.
The GAAP constraints and guides are applied in the preparation of accounting information or statements. The provides uniformity and reporting standards in financial statements, which makes it possible to compare business performance. The GAAP do not help a business improve its financial or business performance. They guide the company's accounting department in maintaining and preparation of accounting records.
