Statements (62)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
accounting standard
|
| gptkbp:appliesTo |
nonprofit organizations in the United States
public companies in the United States private companies in the United States |
| gptkbp:basisFor |
rules-based
|
| gptkbp:basisOfPresentation |
financial statements
|
| gptkbp:compatibleWith |
gptkb:Australia
gptkb:Canada gptkb:China gptkb:European_Union gptkb:India gptkb:Japan gptkb:United_Kingdom |
| gptkbp:component |
gptkb:standard
gptkb:rulebook interpretations principles |
| gptkbp:contrastsWith |
gptkb:IFRS
|
| gptkbp:countryOfOrigin |
gptkb:United_States
|
| gptkbp:differenceFromIFRS |
different revenue recognition criteria
different treatment of development costs different treatment of inventory different treatment of leases less emphasis on fair value more rules-based |
| gptkbp:firstIssueDate |
1930s
|
| gptkbp:governingBody |
gptkb:American_Institute_of_Certified_Public_Accountants
gptkb:Financial_Accounting_Standards_Board |
| https://www.w3.org/2000/01/rdf-schema#label |
U.S. GAAP
|
| gptkbp:language |
English
|
| gptkbp:purpose |
ensure consistency in financial reporting
regulate financial accounting |
| gptkbp:relatedConcept |
conservatism
materiality revenue recognition accrual accounting economic entity assumption full disclosure principle going concern assumption historical cost principle matching principle monetary unit assumption time period assumption |
| gptkbp:requires |
balance sheet
income statement notes to financial statements statement of cash flows statement of shareholders' equity |
| gptkbp:standsFor |
gptkb:Generally_Accepted_Accounting_Principles
|
| gptkbp:subject |
periodic updates
guidance from SEC interpretations by FASB |
| gptkbp:updated |
gptkb:Accounting_Standards_Updates
|
| gptkbp:usedBy |
gptkb:U.S._Securities_and_Exchange_Commission
|
| gptkbp:bfsParent |
gptkb:ASC_350
gptkb:ASC_450 gptkb:ASC_740 gptkb:ASC_805 gptkb:ASC_810 gptkb:ASC_820 gptkb:ASC_830 |
| gptkbp:bfsLayer |
7
|