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Currently, the SEC works closely with various private organizations setting GAAP, but does not set GAAP itself. In 1939, urged by the SEC, the American Institute of Certified Public Accountants (AICPA) appointed the Committee on Accounting Procedure (CAP). During 1939 to 1959 CAP issued 51 Accounting Research Bulletins that dealt with a variety ...
Audit Committee Communications full-text: December 1999 91: Federal GAAP Hierarchy full-text: April 2000 92: Auditing Derivative Instruments, Hedging Activities, and Investments in Securities full-text: September 2000 93: Omnibus Statement on Auditing Standards-2000 full-text: October 2000 94
Before the Codification, accounting standards lacked a consistent and logical structure. For the last 50 years, U.S. GAAP consisted of thousands of standards with multiple standard setters. The old U.S. GAAP were difficult to interpret, and the complexity of the standards made it hard for users to stay up to date.
Aggregated articles pertaining to US GAAP. Pages in category "United States Generally Accepted Accounting Principles" The following 38 pages are in this category, out of 38 total.
The Governmental Accounting Standards Board Statements (GASB Statements or GASBS) are issued by GASB to set generally accepted accounting principles (GAAP) for state and local governments in the United States of America. These statements are the most authoritative source for governmental GAAP.
The Federal Accounting Standards Advisory Board (FASAB) is a United States federal advisory committee whose mission is to improve federal financial reporting through issuing federal financial accounting standards and providing guidance after considering the needs of external and internal users of federal financial information. [3]
Applying FASB Statement No. 34 to Oil and Gas Producing Operations Accounted for by the Full Cost Method—an interpretation of FASB Statement No. 34 Aug. 1980: None; 34. Disclosure of Indirect Guarantees of Indebtedness of Others—an interpretation of FASB Statement No. 5 Mar. 1981: Superseded by FASB Interpretation 45, para. 19; 35.
Generally Accepted Auditing Standards, or GAAS are sets of standards against which the quality of audits are performed and may be judged. Several organizations have developed such sets of principles, which vary by territory.