scholarly journals Big GAAP-Little GAAP Does One-Size-Fits-All Still Work?

2011 ◽  
Vol 4 (5) ◽  
Author(s):  
Paula Morris ◽  
Jane Campbell
Keyword(s):  
United States ◽  
The United States ◽  
Common Elements ◽  
Generally Accepted Accounting Principles ◽  
Accounting Principles

Initiatives for developing Generally Accepted Accounting Principles for private/smaller businesses have surfaced in the United States and internationally.  This paper explores those initiatives and identifies common elements and problems in these efforts.

scholarly journals The USA Federal Debt-to-GDP Ratio and The Unified Budget Act’s Lack of Generally Accepted Accounting Principles

2021 ◽  
Vol 5 (2) ◽  
pp. 49-57
Author(s):  
Paul F. Gentle
Keyword(s):  
United States ◽  
The United States ◽  
Public And Private ◽  
True Nature ◽  
Generally Accepted Accounting Principles ◽  
Accounting Principles ◽  
Trust Funds ◽  
The Usa ◽  
Federal Debt ◽  
Blue Line

Here in the beginning of 2021, two of the truly relevant federal public finance issues are presented in this article. One is the Debt-to GDP Ratio. The second topic is the true nature of deficits, surpluses and future liabilities treated in budgets constructed via the Unified Budget Act. Two graphs on these issues are included. This article shows that the present Debt-to-GDP ratio is relatively high, as if the nation similar to when the United States was in a period of a major war. This graph is shown in this article’s Figure 1. There has been evidence in the macroeconomic literature that indicates a high Debt-to-GDP ratio can possibly result in some degree of slowed economic growth. Though the literature is varied on that point. The reason for the possible crowding out effect has to do with the competition for loanable funds. There is competition from both the public and private demanders of those loanable funds. Furthermore, there is the reality that all federal trust fund balances of the United States must be used to hold U.S. Treasury bonds. For figure 2, two categories on U.S trust funds are shown. One category is the combined total of Social Security. Medicare, Disability and related funds. This is shown in a red line. All the other federal trust funds are indicated in a blue line. There is a graph that shows these two lines. The graph is of the percentage share between the two categories. As a result, the red and blue lines are inverse functions of each other. Over the eighty-year period (1940-2020), there has been variation if both the red and blue lines. The goal of this articles is for leaders and government analysts to be more aware of the issues of the USA Federal Debt to GDP Ratio and the Unified Budget Act’s lack of Generally Accepted Accounting Principles.

Egy vállalat fizetőképességének vizsgálata nemzetközi számviteli viszonylatban

2018 ◽  
Vol 3 (4) ◽  
pp. 332-342
Author(s):  
Alexandra Szekeres ◽  
Ildikó Dékán Tamásné Orbán
Keyword(s):  
United States ◽  
The United States ◽  
Generally Accepted Accounting Principles ◽  
Accounting Principles ◽  
Us Gaap

Minden vállalkozás számára rendkívül fontos, hogy rövid-, illetve hosszútávon fizetőképes legyen. A fizetőképesség egy vállalat működésének alapfeltétele, így különösen a rövidtávú fizetőképesség, másnéven a likviditás kiemelt fontosságú szerepet tölt be az adott vállalkozás életében. Éppen emiatt fontos arra törekednie, hogy elkerülje a likviditási problémákat. Jelen cikkben egy amerikai nagyvállalat rövidtávú fizetőképességének vizsgálatára kerül sor, amely a pénzügyi kimutatásait a US GAAP (The United States Generally Accepted Accounting Principles – az Amerikai Egyesült Államok Általánosan Elfogadott Számviteli Alapelvek) szerint készíti. Bemutatásra kerülnek az alapvető rövidtávú fizetőképességi mutatók, majd az ezek alapján levont következtetések. Mivel a mutatók számolásához a vizsgált vállalat pénzügyi kimutatásának adataira van szükség, amely eltéréseket mutat egy magyar vállalkozás éves beszámolójához képest, így tanulmányunkban kitérünk a két számviteli rendszer közötti különbségekre is azoknál a tételeknél, amelyek hatással vannak a likvidtási mutatókra, különös tekintettel a forgóeszközök tételeire, illetve a rövid lejáratú kötelezettségekre.

Treaty or Travesty?: Legal Issues Surrounding the U.S.- Philippines Military Base Agreement of 1947–1992

2001 ◽  
Vol 10 (1-2) ◽  
pp. 93-121
Author(s):  
L. Eve Armentrout Ma
Keyword(s):  
United States ◽  
World War Ii ◽  
The United States ◽  
Legal Issues ◽  
Military Bases ◽  
Common Elements ◽  
World War ◽  
Long Period ◽  
Host Nation ◽  
Do So

AbstractSince the end of World War II, the United States has been foremost in negotiating military bases on foreign soil, and it can be anticipated that it will do so again in the future. In general, these base agreements have had many common elements. Most have allowed the stationing of American troops on foreign soil for a very long period of time, and have involved a certain measure of extraterritoriality. Most have been concluded under conditions of stress for the host country. Often, for example, the host nation has been one that was devastated by war, and was either the recently defeated enemy or the near-prostrate victor. In many cases the host nation was relatively small, economically shaky, and newly independent, fearful of its chances of survival in an unpredictable and often hostile world; and more often than not, the former ruler or territorial administrator was the United States.

scholarly journals US GAAP en de jaarrekening van Nederlandse ondernemingen

2004 ◽  
Vol 78 (11) ◽  
pp. 489-496
Author(s):  
R. W. Bakker ◽  
Ruud Vergoossen
Keyword(s):  
United States ◽  
Securities And Exchange Commission ◽  
Generally Accepted Accounting Principles ◽  
Accounting Principles ◽  
Onderzoek Naar ◽  
Verenigde Staten ◽  
Mate Waarin ◽  
Us Gaap

In dit artikel wordt verslag gedaan van een onderzoek naar de mate waarin Nederlandse ondernemingen met een beursnotering in de Verenigde Staten de United States Generally Accepted Accounting Principles (US GAAP) toepassen in hun in Nederland gepubliceerde jaarrekening. Daartoe is onderzocht in hoeverre deze ondernemingen in de periode 1995-2002 grondslagwijzigingen hebben doorgevoerd die leiden tot het (meer) toepassen van US GAAP en is nagegaan wat de belangrijkste verschillen tussen US GAAP en de Nederlandse verslaggevingsregels zijn zoals die blijken uit de jaarrekening 2002. Bovendien omvat het onderzoek een vergelijking van de additionele informatieverschaffing in de in Nederland gepubliceerde jaarrekening 2002 en de jaarrekening 2002 zoals opgenomen in het Form 20-F dat bij de Securities and Exchange Commission is gedeponeerd. De onderzoeksresultaten worden vergeleken met eerder soortgelijk onderzoek. Hoewel de in het onderzoek betrokken ondernemingen meer en meer waarderings- en resultaatbepalingsgrondslagen toepassen die in overeenstemming zijn met US GAAP, wordt het aantal in de aansluitingsoverzichten opgenomen afwijkingen tussen de cijfers op basis van US GAAP en die op basis van de Nederlandse verslaggevingsregels niet kleiner, maar juist groter. Daarnaast blijkt dat veel additionele informatie die in de Verenigde Staten verplicht is, ook steeds vaker terechtkomt in de in Nederland gepubliceerde jaarrekening.

scholarly journals IFRS And US GAAP Convergence Progressing: As Taxpayers Voluntarily Stop Using LIFO

2013 ◽  
Vol 12 (4) ◽  
pp. 451
Author(s):  
Dahli Gray
Keyword(s):  
United States ◽  
Federal Budget ◽  
Financial Statements ◽  
The United States ◽  
Tax Revenue ◽  
Generally Accepted Accounting Principles ◽  
Valuation Method ◽  
Federal Income Tax ◽  
Potential Benefits ◽  
Tax Reporting

This paper presents the potential benefits of the last in, first out (LIFO) inventory valuation method being eliminated as a requirement in financial statements prepared under United States Generally Accepted Accounting Principles when also used for United Stated federal income tax reporting. Research results show that corporations have been voluntarily switching from LIFO to another method since inflation declined well below double digits. Of the corporations still using LIFO, the potential billions of federal tax revenue is presented that might help keep the United States federal budget from going over the fiscal cliff.

scholarly journals US GAAP Conversion To IFRS: A Case Study Of The Balance Sheet

2013 ◽  
Vol 9 (2) ◽  
pp. 133-140
Author(s):  
Peter Harris ◽  
Liz Washington Arnold
Keyword(s):  
Financial Market ◽  
Financial Analysis ◽  
Balance Sheet ◽  
The United States ◽  
Generally Accepted Accounting Principles ◽  
International Reporting ◽  
Accounting Principles ◽  
The World ◽  
Us Gaap

International Reporting Standards (IFRS) has become the required framework for most of the world financial market economies. In the United States, US Generally Accepted Accounting Principles (GAAP) is still required. However, plans are presently in place by the SEC to abandon US GAAP and to adhere to IFRS requirements by as early as the period ending December 31, 2014. This case study requires the student to transform a US GAAP presented Balance Sheet to IFRS and is most suitable for an Intermediary Accounting 11 and a Financial Analysis class at the graduate level.

LEGAL ACCEPTANCE OF ACCOUNTING PRINCIPLES IN GREAT BRITAIN AND THE UNITED STATES: SOME LESSONS FROM HISTORY

1988 ◽  
Vol 15 (1) ◽  
pp. 1-27 ◽  
Author(s):  
Jean Margo Reid
Keyword(s):  
United States ◽  
Great Britain ◽  
Case Law ◽  
The United States ◽  
Capital Maintenance ◽  
Fixed Asset ◽  
Business Corporation ◽  
Accounting Principles ◽  
Per Se ◽  
Court Of Appeal

This paper examines and contrasts nineteenth century case law in Great Britain and the United States in which courts had to decide whether to accept accounting concepts having to do with making provisions for depreciation, amortization and depletion. It should be emphasized that the courts were not arguing about accounting theory, per se; they were deciding particular disputes, which depended on the meaning in each case of pro its. By 1889, when Lee v. Neuchatel Asphalte Company was decided, British courts had rejected accepted fixed asset accounting conventions in determining profits in tax, dividend, and other cases while United States courts accepted these conventions, except in the case of wasting asset companies. This historical contrast is of particular interest because a recent reversal of these countries legal stances has occurred through legislation. In the United States, the Revised Model Business Corporation Act and the legislatures of several states have now rejected accounting concepts of profit as the legal test for dividends and other shareholder distributions. The reasons for this rejection appear to be similar to those used by the British Court of Appeal nearly 100 years ago. In Great Britain, on the other hand, the 1980 Companies Act reverses much of the Lee case and places on accountants new responsibilities for determining whether company distributions to shareholders would violate the capital maintenance provisions of the act.

scholarly journals Wereldstandaard financiële verslaggeving: IFRS of US GAAP?

2002 ◽  
Vol 76 (12) ◽  
pp. 565-573
Author(s):  
Ruud Vergoossen ◽  
Frans Van Der Wel
Keyword(s):  
United States ◽  
Financial Reporting ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Generally Accepted Accounting Principles ◽  
Financial Reporting Standards ◽  
Accounting Principles ◽  
Verenigde Staten ◽  
Us Gaap

De roep om een wereldstandaard voor de financiële verslaggeving is groot. De Europese Unie heeft gekozen voor de International Financial Reporting Standards (IFRS) die in 2005 worden ingevoerd, terwijl de Verenigde Staten blijven vasthouden aan de United States Generally Accepted Accounting Principles (US GAAP). Dit artikel gaat in op de implementatie van de IFRS in de Europese Unie en de obstakels die een consistente interpretatie en toepassing van de IFRS in de weg kunnen staan. Daarna worden de IFRS vergeleken met de US GAAP en komt de positie van de IFRS in de Verenigde Staten aan de orde. In een korte slotbeschouwing wordt een drietal scenario’s geschetst om te komen tot een wereldstandaard. Het scenario waarbij de IFRS en de US GAAP naar elkaar toegroeien, lijkt, gegeven de omstandigheden, het meest realistisch en wenselijk (convergentiestrategie).

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