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Accounting research examines how accounting is used by individuals, organizations and government as well as the consequences that these practices have. Starting from the assumption that accounting both measures and makes visible certain economic events, accounting research has studied the roles of accounting in organizations and society and the consequences that these practices have for ...
Generally Accepted Accounting Principles (GAAP or U.S. GAAP or GAAP (USA), pronounced like "gap") is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC) [1] and is the default accounting standard used by companies based in the United States. The Financial Accounting Standards Board (FASB) publishes and maintains ...
Accounting Standards Codification. In US accounting practices, the Accounting Standards Codification (ASC) is the current single source of United States Generally Accepted Accounting Principles (GAAP). It is maintained by the Financial Accounting Standards Board (FASB).
Accounting Research Bulletins were documents issued by the US Committee on Accounting Procedure between 1938 and 1959 on various accounting problems. They were discontinued with the dissolution of the Committee in 1959 under a recommendation from the Special Committee on Research Program. [1] In all, 17 bulletins were issued; however, the lack ...
e. International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). [ 1 ] They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and ...
Resources, events, agents ( REA) is a model of how an accounting system can be re-engineered for the computer age. REA was originally proposed in 1982 by William E. McCarthy as a generalized accounting model, [ 1] and contained the concepts of resources, events and agents (McCarthy 1982). REA is a standard approach in teaching accounting ...
An accounting information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision makers. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources. The resulting financial reports can ...
Generally Accepted Accounting Principles (GAAP) or GAAP ( Canada) of Canada provided the framework of broad guidelines, conventions, rules and procedures of accounting.In early 2006, the AcSB decided to completely converge Canadian GAAP with international GAAP, i.e. International Financial Reporting Standards (IFRS), as set by the International Accounting Standards Board (IASB), for most ...