US GAAP 2571

  • Hi all
    I am from Singapore and past accounting academic training had always been invloving around International and Singapore GAAP.
    Hence, I am not well-versed with US GAAP.
    For a start, can anyone provide a source where i can get the entire set of rules under US GAAP?
    I have tried surfing the FASB website, but realised that it comprises several different types of rules and guidances, eg, FAS, EITF etc…hence i am kind of confused by t.
    pls advise. thank you

  • US GAAP is not going to be found in one location on the internet. You can purchase US GAAP guidebooks (which I would recommend).
    From a draft proposal by the FASB -
    The sources of accounting principles that are generally accepted are categorized in descending order of authority as follows:
    a. AICPA Accounting Research Bulletins and Accounting Principles Board Opinions that are not superseded by action of the FASB, FASB Statements of Financial Accounting Standards and Interpretations, FASB Statement 133 Implementation Issues, and FASB Staff Positions.1
    b. FASB Technical Bulletins and, if cleared2 by the FASB, AICPA Industry Audit and Accounting Guides and Statements of Position.
    c. AICPA Accounting Standards Executive Committee Practice Bulletins that have been cleared by the FASB and consensus positions of the FASB Emerging Issues Task Force (EITF).
    d. Implementation guides (Q-and-As) published by the FASB staff, AICPA accounting interpretations, and practices that are widely recognized and prevalent either generally or in the industry.

  • US GAAP is not going to be found in one location on the internet.
    The FASB has codified US GAAP in one location on the internet in a pilot project since many months at As long as it is in its verification phase it is free of charge if you sign up.

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