Generally Accepted Accounting Principles

• A comparison of the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) for Small and Medium-sized Entities (SMES) and compliances of some Asian countries to IFRS.

This paper compares International Financial Accounting Standards (IFRS) with Generally Accepted Accounting Principles (GAAP) for small and medium-size...

• Journal of International Business Research
• Vol. 10 Nbr. 3, December 2011

• 12 CFR 621.3 - Application of generally accepted accounting principles.

• Code of Federal Regulations - Title 12: Banks and Banking

• International Standards Target Generally Accepted Accounting Principles

More than 100 countries and counting have adopted International Financial Reporting Standards and there's a push for the United States to join in, which would eliminate the Generally Accepted Accounting Principles currently in use. According to a road map published by the U.S. Securities and Exchange Commission, the agency will make a final decision on whether to adopt IFRS standards by 2011, with an implementation deadline of 2016 for all public firms. However, accounting firms and some of their clients are watching closely for an SEC statement that is expected before the end of this year, which may give a clearer indication of whether the SEC intends to move toward adoption, or if IFRS will go the way of the metric system in this country.

• Long Island Business News
• December 09, 2009

• Xcel Energy 2012 Year End Earnings Report

-- Ongoing 2012 earnings per share were $1.82 compared with $1.72 per share in 2011. -- GAAP (generally accepted accounting principles) 2012 earnings per share were $1.85 compared with $1.72 per share in 2011.

• Business Wire
• January 31, 2013

• A Common Framework for Accounting Standards

In September 2010, the US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) completed the first phase of a project that will influence global standards setting for many years to come. Having a conceptual framework eliminates the need for a standards setter, such as the FASB or the IASB, to reestablish core concepts each time it develops or updates a standard. Additionally, by consistently referring to a stable conceptual framework, a standards setter is more likely to promulgate standards that are consistent with each other as well as with significant assumptions and constraints. The conceptual framework of US Generally Accepted Accounting Principles is documented in a series of Statements of Financial Accounting Concepts issued by the F...

• Strategic Finance
• Vol. 92 Nbr. 5, November 2010

• Accounting for business combinations and the convergence of International Financial Reporting Standards with U.S. generally accepted accounting principles: a case study.

CASE DESCRIPTION The primary subject matter of this case concerns changes in accounting for business combinations and the convergence of Internation...

• Journal of the International Academy for Case Studies
• Vol. 16 Nbr. 2, February - December 2010

• Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Regulatory Capital; Impact of Modifications to Generally Accepted Accounting Principles; Consolidation of Asset-Backed Commercial Paper Programs, etc.

• FR, September 15, 2009
• Proposed rules
• Comptroller of the Currency

• A Review of the Persistent Reconciling Items Between Financial Statements Using U.S. Gaap and International Financial Reporting Standards for Three Auto Manufacturers

This paper investigates differences between the financial statements of Volvo Corporation, Daimler AG, and Fiat SPA as prepared under International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles (U.S.GAAP) from 2004-2006. The application of IFRS generally resulted in higher net income than U.S. GAAP. Many differences have already been resolved by the convergence projects of the Financial Accounting Standards Board and the International Accounting Standards Board. However, significant and persistent reconciling items that are likely to affect U.S. automakers' financial statements include: pension and other post-retirement benefits expenses, capitalization of development costs, and minority interests reporting.

• International Management Review
• Vol. 6 Nbr. 1, January 2010

• 49 CFR 1200.2 - Adoption of generally accepted accounting principles issued by the Financial Accounting Standards Board (FASB).

• Code of Federal Regulations - Title 49: Transportation

• Accounting for global entities and the effect of the convergence of u.s. generally accepted accounting principles to international financial reporting standards.

CASE DESCRIPTION The primary subject matter of this case concerns strategic decisions that global entities, their executives, and accountants face i...

• Journal of the International Academy for Case Studies
• Vol. 15 Nbr. 6, June - October 2009