US GAAP

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US GAAP is the comprehensive set of accounting principles and standards that govern how U.S. companies prepare and present their financial statements.

All labels observed (13)

How this entity was disambiguated

Statements (105)

Predicate Object
instanceOf accounting standard framework
financial reporting framework
set of generally accepted accounting principles
aimsTo enhance transparency in financial reporting
reduce information asymmetry between management and investors
appliesTo U.S. private companies
U.S. public companies
not-for-profit organizations in the United States
state and local governments in certain contexts
basisOf accrual accounting
codificationEffectiveFrom 2009
codifiedIn FASB Accounting Standards Codification
composedOf Accounting Standards Codification
linked to: US GAAP
contrastedWith IFRS
countryOfApplication United States
differsFrom International Financial Reporting Standards
emphasizes historical cost measurement in many areas
enforcedBy Securities and Exchange Commission for public companies
fullName United States Generally Accepted Accounting Principles
linked to: US GAAP
governs accounting changes and error corrections
asset retirement obligations
business combination accounting
cash flow statement presentation
comprehensive income reporting
consolidation of financial statements
consolidation of majority-owned subsidiaries
consolidation of variable interest entities
contingencies and provisions
debt and equity classification
disclosure requirements in financial reports
discontinued operations reporting
earnings per share reporting
fair value measurement
financial instruments accounting
foreign currency translation
goodwill impairment testing
hedge accounting
impairment of long-lived assets
income tax accounting
insurance contract accounting
intangible assets accounting
interim financial reporting
inventory accounting
lease accounting
measurement of assets
measurement of liabilities
noncontrolling interests in consolidated financial statements
nonmonetary transactions
oil and gas accounting in certain industries
pension and other postretirement benefit accounting
preparation of financial statements
presentation of balance sheet
presentation of financial statements
presentation of income statement
presentation of statement of cash flows
presentation of statement of shareholders’ equity
recognition of expenses
recognition of revenues
related party disclosures
restructuring charges
revenue recognition for contracts with customers
segment disclosures
segment reporting
share-based payment accounting
software development cost accounting
subsequent events reporting
troubled debt restructurings
includesConcept comparability
conservatism
consistency
full disclosure
going concern assumption
matching principle
materiality
relevance
reliability
revenue recognition principle
includesStandard ASC 230 Statement of Cash Flows
linked to: US GAAP

ASC 260 Earnings Per Share
linked to: US GAAP

ASC 280 Segment Reporting
linked to: US GAAP

ASC 320 Investments—Debt and Equity Securities
linked to: US GAAP

ASC 350 Intangibles—Goodwill and Other
ASC 606 Revenue from Contracts with Customers
linked to: US GAAP

ASC 718 Compensation—Stock Compensation
ASC 740 Income Taxes
ASC 805 Business Combinations
ASC 842 Leases
influencedBy Securities and Exchange Commission
language English
objective provide decision-useful financial information to investors and creditors
overseenBy Financial Accounting Foundation
previouslyComposedOf APB Opinions
Accounting Research Bulletins
Statements of Financial Accounting Standards
primaryRegulator Financial Accounting Standards Board
requires audit by independent auditors for most public companies
standardSetter Financial Accounting Standards Board
supports comparability of financial statements across U.S. entities
timePerspective primarily historical financial information
usedBy companies whose securities trade in U.S. public markets
many U.S. private companies
usedFor SEC filings
annual reports to shareholders
external financial reporting
quarterly financial reports

How these facts were elicited

Referenced by (23)

Full triples — surface form annotated when it differs from this entity's canonical label.

TXN filingStandard US GAAP
Federal Realty Investment Trust hasReportingStandard U.S. GAAP
linked to: US GAAP
US GAAP fullName United States Generally Accepted Accounting Principles
linked to: US GAAP
US GAAP composedOf Accounting Standards Codification
linked to: US GAAP
US GAAP includesStandard ASC 606 Revenue from Contracts with Customers
linked to: US GAAP
US GAAP includesStandard ASC 320 Investments—Debt and Equity Securities
linked to: US GAAP
US GAAP includesStandard ASC 230 Statement of Cash Flows
linked to: US GAAP
US GAAP includesStandard ASC 280 Segment Reporting
linked to: US GAAP
US GAAP includesStandard ASC 260 Earnings Per Share
linked to: US GAAP
DBX hasReportingStandard U.S. GAAP
linked to: US GAAP
Federal Realty Investment Trust hasReportingStandard U.S. GAAP
subject linked to: NYSE:FRT
linked to: US GAAP
KO reportsInStandard US GAAP
Financial Accounting Standards Board standardType Generally Accepted Accounting Principles
linked to: US GAAP
Statements of Financial Accounting Standards partOf U.S. GAAP hierarchy
linked to: US GAAP
APB Opinions appliesTo U.S. generally accepted accounting principles
linked to: US GAAP
IFRS relatedTo US GAAP
International Financial Reporting Standards relatedTo US Generally Accepted Accounting Principles
linked to: US GAAP
Bureau of Accountancy usesAccountingStandard Generally Accepted Accounting Principles
linked to: US GAAP
SPCE hasReportingStandard U.S. GAAP
linked to: US GAAP
Olin Corporation hasReportingStandard U.S. GAAP
linked to: US GAAP
Public Service Enterprise Group Incorporated hasReportingStandard US GAAP
subject linked to: NYSE:PEG
WBA hasReportingStandard US GAAP
onsemi regulatoryFilingStandard US GAAP
subject linked to: NASDAQ:ON