1 definition by HB Clone
Generally Unaccepted Accounting Principles, the opposite of GAAP (Generally Accepted Accounting Principles)
If a company decides to do anything that is not GAAP, like managing earnings, they would be following GUAP.
Auditor: They didn't accrue for bad debts so their income is overstated a material amount, that is some serious GUAP!
Auditor: They didn't accrue for bad debts so their income is overstated a material amount, that is some serious GUAP!
by HB Clone August 2, 2011