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US GAAP

Summary of US GAAP (Generally Accepted Accounting Principles). Abstract

 

 

US GAAP SEC FASB

Value Based Management.net


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 (set by policy boards) 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 the regulatory intervention by the SEC.

Comapre also:   IASB  |  FASB  |  Fair Value

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2016 Value Based Management.net - Last updated: Jan 6th, 2016 - All names by their owners

 

Summaries of 2,000 management methods