US GAAP

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Generally Accepted Accounting Principles. Explanation of US GAAP.

Description

US GAAP are the Generally Accepted Accounting Principles used by companies based in the USA or listed at Wall Street. US GAAP comprises a massive volume of standards, interpretations, opinions and bulletins and are developed by the FASB (Financial Accounting Standards Board), the accounting profession (AICPA) and the SEC (Securities and Exchange Commission).

US GAAP is a combination of authoritative standards by policy organizations and the accepted ways of doing accounting.

US GAAP standards are certainly equivalent to IAS. However, they are developed without any input from outside the US. US GAAP is very detailed, reflecting the litigious environment in the US which calls for more and more detailed regulation. US GAAP cannot be detached from regulatory intervention by the SEC.

Book: Wiley - GAAP 2004 -

US GAAP Special Interest Group

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US GAAP Forum

Shadow - Morocco

US GAAP and the Financial Crisis

"What was the role of US GAAP to check over the failing in the financial system?"

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Marco - Italy

Exchange Ratio Statement

"Which SEC filings must I search if I want see the exchange ratio statement?? Exchange ratio statement = the statement that shows how the exchange ratio was calculated."

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Mobombo Franck - Congo

Comprehension of US GAAP

"I want to understand how to use the US GAAP in the oil and gas domain."

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Ziwei - Singapore

Principle

"What items will most likely have market value that differ significantly from the book values reported? What principles give rise to the differences?"

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