poltgem.blogg.se - Generally accepted accounting principles

#Generally accepted accounting principles update#
#Generally accepted accounting principles professional#

When the changes will be effective and the transition method.GAAP and background information related to the change GAAP, including each specific amendment to the FASB Codification

#Generally accepted accounting principles update#

The FASB issues an Accounting Standards Update (Update or ASU) to communicate changes to the FASB Codification, including changes to non-authoritative SEC content. Accounting textbooks, handbooks, and articles.Technical Information Service Inquiries and Replies included in AICPA Technical Practice Aids.

#Generally accepted accounting principles professional#

Pronouncements of professional associations or regulatory agencies.

International Financial Reporting Standards of the International Accounting Standards Board.

American Institute of Certified Public Accountants (AICPA) Issues Papers.

Practices that are widely recognized and prevalent either generally or in the industry.

Įxamples of nonauthoritative accounting guidance and literature include the following: In addition to the SEC's rules and interpretive releases, the SEC staff issues Staff Accounting Bulletins that represent practices followed by the staff in administering SEC disclosure requirements, and it utilizes SEC Staff Announcements and Observer comments made at Emerging Issues Task Force meetings to publicly announce its views on certain accounting issues for SEC registrants. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. The FASB Accounting Standards Codification is the source of authoritative GAAP recognized by the FASB to be applied by nongovernmental entities. GAAP in Extensible Business Reporting Language (XBRL) beginning in 2008. The Financial Accounting Standards Board (FASB) publishes and maintains the Accounting Standards Codification (ASC), which is the single source of authoritative nongovernmental U.S. Securities and Exchange Commission (SEC) and is the default accounting standard used by companies based in the United States. GAAP, pronounced like "gap") is the accounting standard adopted by the U.S. Generally Accepted Accounting Principles ( GAAP or U.S.