Is There a Gap in Your Knowledge of Gaap?
Posted: 21 May 2003
Abstract
As recent accounting scandals have demonstrated, an understanding of the accounting rules underlying financial information is important before analysts or users of financial statements rely on that information. Accounting guidance comes from numerous sources. We summarize the sources of generally accepted accounting principles, explain the hierarchy of these sources of guidance, and indicate where analysts and users of financial statements can find the electronic and printed texts of the rules.
Keywords: Financial Statement Analysis: financial accounting standards, Financial Statement Analysis: accounting and financial reporting issues, Equity Investments: fundamental analysis and valuation models
JEL Classification: G29, M41, M44
Suggested Citation: Suggested Citation