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Generally Accepted Accounting Principles (GAAP) [a] is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC), [1] and is the default accounting standard used by companies based in the United States.
The Financial Accounting Standards Board (FASB) is a private standard-setting body [1] whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States in the public's interest.
Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required. The term generally accepted accounting principles (GAAP) was popularized in the late 1930s. [1] [better source needed]
Pages in category "United States Generally Accepted Accounting Principles" The following 38 pages are in this category, out of 38 total. This list may not reflect recent changes .
In US accounting practices, the Accounting Standards Codification (ASC) is the current single source of United States Generally Accepted Accounting Principles (GAAP). It is maintained by the Financial Accounting Standards Board (FASB).
Accounting standard setting bodies are national or international organisations that have been delegated responsibility for setting Generally Accepted Accounting Principles by statute in a country or jurisdiction. International The International Accounting Standards Board issues IFRS
U.S. tax accounting refers to accounting for tax purposes in the United States. Unlike most countries, the United States has a comprehensive set of accounting principles for tax purposes, prescribed by tax law, which are separate and distinct from Generally Accepted Accounting Principles .
Accounting standards in the United States (1 C, 3 P) Pages in category "Accounting in the United States" The following 53 pages are in this category, out of 53 total.