What Is a Trade Surplus?

A trade surplus occurs when a country exports more goods and services than it imports. This happens when the value of a country’s exports is greater than the value of its imports. A country with a trade surplus is said to have a “favorable” trade balance, while a country with a trade deficit is said … Read more

Generally Accepted Principles And Practices (GAPP).

The Generally Accepted Principles and Practices (GAPP) is a set of standards that provides guidance on how businesses should operate. It covers areas such as financial reporting, internal controls, and risk management. The GAPP standards are developed by the American Institute of Certified Public Accountants (AICPA). They are voluntary guidelines that are not enforceable by … Read more