Bringing the GAAP Hierarchy Into GAAP

Topics:
GAAP,
GAAP and GAAS
Tags:
Finance,
Financial Accounting,
GAAP,
Hierarchy,
KPMG International
Source:
KPMG International

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Overview: This article explains a proposed FASB Statement that would adopt the hierarchy of generally accepted accounting principles now in auditing standards with some updating modifications. The proposal would make the rules governing which accounting principles take precedence directly applicable to preparers of financial statements, not just to auditors, and is a first step in developing a new approach to the hierarchy that could significantly affect future standard setting.

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Format: PDF | Size: 141KB | Date: Apr 2005 | Pages: 2

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