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 -

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Exchange Ratio Statement |
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