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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 -

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Resources - US GAAP Premium Dealing with Complexity / Transparency in Financial Information This presentation is about information transparency, and includes the following sections: 1. Introduction: an experiment 2. Transparency: th... Usage (application): Corporate Transparency, Financial Complexity, Information Complexity, Information Transparancy   USGAAP versus IFRS on Intangibles Accounting This presentation compares USGAAP and IFRS, and includes the following sections: 1. Presentation Overview 2. Executive Summary 3. Progr... Usage (application): Intangible Assets, Accounting, USGAAP, IFRS   Choosing for IFRS or US GAAP Due to the increased competition on capital markets and given the global importance of US markets, IFRS and US GAAP are competing to become the world ... Usage (application): Accounting regime differences   IAS and US GAAP Mary E. Barth a.o. compare measures of accounting quality for firms applying IAS with US firms to investigate whether IAS are associated with less ear... Usage (application): IAS, US GAAP, Accounting Quali     News Us Gaap Fasb         News Us Gaap Sec         Videos Us Gaap Fasb         Videos Us Gaap Sec         Presentations Us Gaap Fasb         Presentations Us Gaap Sec         More Us Gaap Fasb         More Us Gaap Sec

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