Who Created GAAP?


The Financial Accounting Standards Board (FASB) created GAAP (Generally Accepted Accounting Practices). These principles are standardized guidelines used throughout the discipline.
1 Additional Answer
The GAAP, or Generally Accepted Accounting Principles, are accounting rules followed by businesses, nonprofit organizations, and the government. They were first developed by accountants and auditors, specifically the American Institute of Certified Public Accountants, and later overseen by the FASB, or Financial Accounting Standards Board. You can find out more information here: en.wikipedia.org
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I found this posted at: http://business.library.emory.edu/info/a… -------------------------- "Who Sets Accounting Standards? The Financial Accounting Standards Board (
The GAAP rules are created and maintained by a nationally centred group of qualified accountants. When new or amended GAAP rules are prepared they are submitted to the entire population
First, download the codification files from the XBRL US web site, then open up your XBRL creation software tool and download the 2009 US GAAP Release. When you select an element in
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The GAAP was created in 1936 by the Committee on Accounting Procedure (CAP). The GAAP are accounting rules used in the United States when preparing financial ...
GAAP is created and monitored at two levels. The American Institute of Certified Public Accountants designated the Financial Accounting Standards Board to oversee ...
Yes, FASB or the Financial Accounting Standard Board, is the only entity that can create generally accepted accounting principles, also known as gaap. ...
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