The classical paper [40] by S. K. Godunov had a revolutionary effect on the field of numerical simulations of compressible fluid flows. Yet, for some twenty years after its publication, it was mostly used by the mathematical community in the Soviet Union. The seminal paper of van Leer [85] has inaugurated the period of universal interest in high-resolution extensions of Godunov's scheme. The first step to take was to modify the (locally) self-similar solution to the Riemann Problem (at discontinuities) by allowing piecewise-polynomial (rather than piecewise-constant) initial data. The GRP (Generalized Riemann Problem) analysis [6] provided analytical solutions (for piecewise-linear data) that could be readily implemented in a high-resolution robust code. This review paper focuses on the evolution of some mathematical aspects of this method. It addresses the three concepts of consistency, stability and convergence in the context of compact finite difference (or finite volume) schemes for systems of nonlinear hyperbolic conservation laws. The treatment utilizes the framework of “balance laws”, a common viewpoint in relevant physical conservation laws. The first significant observation is that under very mild conditions a weak solution is indeed a solution to the balance law (obtained by a formal application of the Gauss-Green formula). Since high-resolution schemes require the computation of several quantities per mesh cell (e.g., slopes), the notion of “consistency” must be extended to this framework. A combination of consistency hypothesis with stability of the scheme leads to a suitable convergence theorem, generalizing the classical convergence theorem of Lax and Wendroff [52]. Finally, the limit functions are shown to be entropy solutions by using a notion of “Godunov compatibility”, which serves as a substitute to the entropy condition.