US GAAP Accounting
FEATURED ARTICLES
All articles in this category pertain to US GAAP accounting. Generally accepted accounting principles (GAAP) refers to the set of financial reporting guidelines issued by the Financial Standards Board (FASB). These principles ensure consistent, comparable, and transparent financial reporting. Public companies in the United States are required to follow US GAAP and many other private and nonprofit entities do as well.
Learn more about US GAAP accounting below.
Recent articles
Lease Payments: Establishing the Initial Lease Liability & ROU Asset under ASC 842
This article provides information about establishing your initial lease liability and ROU asset under ASC 842.
Transitioning to ASC 842 for Nonpublic Entities
This article provides information about transition requirements the practical expedients available that may help with transition.
Private companies: 3 practical expedients to ease your ASC 842 journey
This article breaks down three practical expedients under ASC 842 for private companies.
Lease Commencement Date and Start Date for US GAAP Accounting Explained
This article will help you determine the start date of your leases.
Last minute change: Amendment to the discount rate guidance in ASC 842
Learn about recent updates to ASC 842 as the deadline approaches.
Recent Updates to ASC 606: Post-Implementation Review, ASC 805
While ASC 606 Revenue from Contracts with Customers (ASC 606) has been effective for all companies with annual reporting periods beginning after December 15, 2019, the FASB’s post-implementation review (PIR) process and updates to other standards continue to cause...