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متابعة

Which organization sets generally accepted accounting standards (GAAP)?

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تم إضافة السؤال من قبل Sultan Alghamdi
تاريخ النشر: 2016/02/02
Nuredin Abdelwasie
من قبل Nuredin Abdelwasie , Senior Accountant , Ghaya Group

For the US , it is the FASB (Financial Accounting Standards Board)

sabeena shaji
من قبل sabeena shaji , Accounts Assistant , DPSA LLC

FINANCIAL ACCOUNTING STANDARDS BOARD

JABARAJ DEVARAJ
من قبل JABARAJ DEVARAJ , COST CONTROL SUPERVISOR , UNITED ARAB SHIPPING COMPANY

U.S. Securities and Exchange Commission

Muhammad Mujtaba Shafique
من قبل Muhammad Mujtaba Shafique , RJ , Dream Fm106

Generally acceptable accounting principles, additionally referred to as GAAP or US GAAP, are the typically common accounting principles followed through the U.S. Securities and trade fee (SEC). At the identical time as the SEC has stated that it intends to move from US GAAP to the global economic Reporting requirements (IFRS), the latter variety appreciably from GAAP and improvement has been gradual and unsure.

There may be no well-known GAAP popular and the specifics vary from one geographic region or enterprise to another. Within the united states, the Securities and change fee (SEC) mandates that financial reviews adhere to GAAP requirements. The financial Accounting requirements Board (FASB) stipulates GAAP usual and the Governmental Accounting requirements Board (GASB) stipulates GAAP for country and local government. Publicly traded organizations should comply with each SEC and GAAP requirements.

 

Many countries around the arena have adopted the international financial Reporting standards (IFRS). IFRS is designed to offer a worldwide framework for how public agencies prepare and disclose their financial statements. Adopting a single set of worldwide-extensive standards simplifies accounting procedures for worldwide countries and affords buyers and auditors with a cohesive view of price range. IFRS affords preferred steerage for the practise of financial statements, in preference to regulations for enterprise-specific repor

CA Yogesh Pannalal Trivedi
من قبل CA Yogesh Pannalal Trivedi , FINANCE MANAGER , SHARAF GROUP

Organisation which is either registered or having its permanent establishment in United States of America is using GAAP(Generally Accepted Accounting Principals)

Ahmed Alkhateb
من قبل Ahmed Alkhateb , Independent Accounting , Self employed

FASB (Financial Accounting Standards Board)

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