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Topic: US GAAP

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	[ 3 ] Explanation of the consolidation, valuation and accounting principles pursuant to US GAAP that differ from ... (Site not responding. Last check: 2007-09-18)
		US GAAP requires that, according to SFAS 133, all derivative instruments are recognized as assets or liabilities on the balance sheet and measured at fair value.
		According to US GAAP, deferred taxes are to be recorded for all temporary differences between carrying amounts of assets and liabilities in the consolidated balance sheet or the US GAAP balance sheet figures, respectively, and the tax base of these assets and liabilities (“temporary concept”).
		The balance sheet classification under US GAAP is based, on the asset side, on the degree to which said asset could be realized, and, in the case of liabilities, on the residual term of the liabilities.
	www.leoni.com /english/gb2003/abschluss/03.html (2725 words)

	U.S. generally accepted accounting principles - Wikipedia, the free encyclopedia
		Generally accepted accounting principles (GAAP) are the accounting rules used to prepare financial statements for publicly traded companies and many private companies in the United States.
		The GAAP is not written in law, although the U.S. Securities and Exchange Commission (SEC) requires that it be followed in financial reporting by publicly traded companies.
		The FASB accepts nominal value of US Dollar as the monetary unit of record (unadjusted for inflation).
	en.wikipedia.org /wiki/US_generally_accepted_accounting_principles (1354 words)

	[No title]
		As an academic (www.gaap.cz), I have taught US GAAP and financial analysis at the Prague University of Economics.
		US GAAP, on the other hand, is much more specific in its requirements and thus requires adjustments that result in a much more faithful picture of a company's financial position and results.
		In other words, US companies will start to put significant pressure on their auditors to water down their application of the harsher US GAAP rules and auditors, who are always susceptible to this kind of pressure (especially if it comes at them from all sides), will comply.
	www.sec.gov /rules/concept/s70400/mladek1.txt (1229 words)

	The Telegraph - Calcutta : Business (Site not responding. Last check: 2007-09-18)
		US norms account for the full negative impact of provisions for bad debts, while it does not include extra-ordinary profits accruing outside its normal business activities.
		However, the US Gaap requires capital gains to be directly added to the net worth without being routed through Pand account while provisions of Rs 2,226 crore ($ 468 million) were accounted for in Pand under this method.
		The bank said under US Gaap, ICICI is deemed to have acquired the bank and therefore the latter’s assets were stated at fair values while accounting for the merger.
	www.telegraphindia.com /1030629/asp/business/story_2114905.asp (504 words)

	US GAAP
		US GAAP are the Generally Accepted Accounting Principles used by companies based in the USA or listed at Wall Street.
		US GAAP comprises a massive volume of standards, interpretations, opinions and bulletins and are developed by the FASB (Financial Accounting Standards Board), the accounting profession (AICPA) and the SEC (Securities and Exchange Commission).
		US GAAP cannot be detached from regulatory intervention by the SEC.
	www.12manage.com /methods_usgaap.html (121 words)

	Reconciliation to US GAAP (Site not responding. Last check: 2007-09-18)
		Under US GAAP, Sandoz would be deemed to be the acquirer with the assets and liabilities of Ciba-Geigy being recorded at their estimated fair values and the results of Ciba-Geigy being included from December 20, 1996.
		US GAAP does not allow a limitation on the recognition of prepaid pension assets recorded in the balance sheet.
		However, US GAAP requires that the tax effect is calculated with reference to the local tax rate in the seller’s or manufacturer’s jurisdiction.
	www.novartis.com /annual_reports/2004/fr_us_gaap.shtml (5215 words)

	[No title]
		Further, US institutions have become the largest source of capital in the world, extensive data exists on their holdings in non-US firms (including direct investment in foreign exchanges) and, as sophisticated investors, they are the class of US investors most likely to base their investment decisions on a detailed analysis of financial statements.
		The degree of conformity with US GAAP is significantly higher in the restricted sample than in the sample with no US institutional ownership, providing univariate support for the prediction that US investors prefer firms with higher conformity with US GAAP.
		For all three measures of US institutional ownership—indicator, number, and percent—and for both US GAAP conformity measures, the coefficient on the US GAAP conformity ratio is positive and significant at the 0.001 level.
	www.hbs.edu /units/ac/imo2002/Papers/bbmIMOversion1.doc (7152 words)

	IAS Plus - Comparison of IFRSs and US GAAP
		US: Not directly addressed in US GAAP literature, although an auditor may conclude that by applying a certain GAAP requirements the financial statements are misleading, thereby allowing for an 'override'.
		US: Noncurrent if the lender has granted a waiver for a period greater tha one year (or operating cycle if longer) before the issuance of the financial statements or where it is probable that the violation will be cured within the grace period, if any, prescribed in the long-term debt agreement.
		US: All derivatives are measured at fair value (though the definition of a derivative is not identical to that of IAS 39).
	www.iasplus.com /usa/ifrsus.htm (6053 words)

	[No title]
		Under U.S. GAAP, the premium on redemption of long-term debt related to the limited partnership transaction, as described in Note 12 to the corporation's annual consolidated financial statements, is recorded as an extraordinary loss when incurred, whereas for Canadian GAAP the loss is amortized to earnings over the period of the limited partnership to 2018.
		U.S. GAAP requires that the cost of employee pension benefits be determined using the accrual method with application from 1989.
		The difference between U.S. GAAP and Canadian GAAP for the corporation's regulated operations has no effect on net earnings and retained earnings, as any difference from the allowed method of recovery is recognized as a regulatory liability refundable through regulation.
	www.freeedgar.com /EdgarConstruct/Data/1137171/02-66/tac6kgaap.htm (1469 words)

	PRESS RELEASE O.A.O. TATNEFT ANNOUNCES DELAY OF US GAAP ACCOUNTS (Site not responding. Last check: 2007-09-18)
		The audit of the U.S. GAAP financial statements for 2004 did not commence until September 2005 due to the delay in the completion of the audit and publication of the Company's consolidated U.S. GAAP financial statements for 2003, which were published by the Company on July 14, 2005.
		The audit of the U.S. GAAP financial statements for 2004 is now underway, and the Company currently expects the audit to be completed at the beginning of 2006.
		Due to the delay in the publication of the U.S. GAAP financial statements for 2004, the Company is delaying the publication of its consolidated U.S. GAAP financial statements for the first six months of 2005.
	www.marketwire.com /mw/release_html_b1?release_id=100579&tsource=3 (355 words)

	Cable & Wireless Annual results 1996-1997 Reconciliation of UK and US GAAP (Site not responding. Last check: 2007-09-18)
		US GAAP The preceding figures have been prepared in accordance with accounting principles generally accepted in the United Kingdom (UK GAAP), which differ in certain material respects from US GAAP.
		Under US GAAP, the rights of the minority shareholders in Cable and Wireless Communications are such that the equity method of accounting is required.
		The net income for the year ended 31 March 1997 under US GAAP has been restated to take account of cumulative exchange gains totalling £93 million attributable to the goodwill associated with Vebacom, which was disposed of in the year ended 31 March 1997.
	www.cw.com /media_events/media_centre/financials/9697/annual/mc_735res9697.html (331 words)

	Blair1
		While US GAAP is strenuously applied by companies, so that they meet the requirements of the independent audit system in the US, the companies using IAS take a pick and choose attitude toward which standards they will adapt.
		Under US GAAP these items are required to be expensed as incurred, whereas under IAS 38 there is the option to capitalize these items under certain circumstances.
		This handicaps US firms who are tied down as to how they will account for certain transactions whereas a foreign company will have flexibility in the method it wishes to use in accounting for the transaction.
	www.sec.gov /rules/concept/s70400/blair1.htm (2070 words)

	CCH Business Owner's Toolkit \| Ask Alice About GAAP
		GAAP (actually it's US GAAP) is an interesting conglomeration of standards for reporting the financial condition of a business in a manner that is, in theory at least, consistent and understandable.
		The use of US GAAP is supposed to ensure that the stakeholders of a business and the regulatory authorities responsible for monitoring that business can rely on the accountant/auditor of the business to express its true condition according to the rulebook.
		US GAAP is run under the auspices of the FASB (Financial Accounting Standards Board) which is an independent body recognized as the authority in such matters by both the SEC (Securities and Exchange Commission, the enforcer for the public sector) and the AICPA (American Institute of Certified Public Accountants for the private sector).
	www.toolkit.cch.com /advice/04-128askalice.asp (746 words)

	Similarities & Differences - A comparison of IFRS and US GAAP
		This publication is for those who wish to gain a broad understanding of the key similarities and differences between IFRS and US GAAP.
		There are many differences of detail which exist between IFRS and US GAAP, and readers should consult all the relevant standards currently in force when dealing with a specific accounting issue.
		In particular this publication is not intended as a study of all aspects of accounting practice under the GAAP and Regulations it addresses, nor as a substitute for reading the local accounting standards and other official pronouncements dealing with specific issues.
	www.pwcglobal.com /extweb/pwcpublications.nsf/docid/74d6c09e0a4ee610802569a1003354c8 (236 words)

	us gaap accounting resources (Site not responding. Last check: 2007-09-18)
		Philips applies US GAAP accounting, under which the company was already required in 2002 to book impairment charges on its equity holdings in Atos Origin after the market value of these holdings had...
		US accounting literature and interpretation of the impacts of recent developments in US GAAP provide accounting assistance and advice for specific transactions.
		As a Chartered Accountant with extensive knowledge of US GAAP accounting he is qualified to sit on the Audit Committees of US and UK public companies.
	www.urcaccounting.com /a/usgaapaccounting (1198 words)

	The World according to US GAAP
		Companies around the world are entering US markets in pursuit of financing, and are faced with the challenge of disclosing their operations in a way that compares to the reporting practices of US-based companies.
		For firms that need to raise capital in USmarkets, the less they have to fuss about their accounting systems the better, and the closer that international standards are to US GAAP, the greater the likelihood they will be allowed on the New York stock exchange without having to prepare a reconciliation.
		Given the powerful attraction of the US mega-markets and the pressures exerted on standard-setters by the SEC, a number of informed observers expect that the ultimate result will be standards that closely resemble US GAAP.
	www.camagazine.com /index.cfm/ci_id/6323/la_id/1.htm (2549 words)

	US GAAP and SEC reporting Form 20-F US accounting - Deloitte Touche Tohmatsu
		Deloitte offers a number of US GAAP training courses that can be tailored to meet the specific information requirements of the organisation.
		Debbie is a partner in the technical advisory division of the firm and her area of expertise is international reporting practices.
		Edwin is a US GAAP and SEC Reporting specialist who provides a range of US support and advisory services to partners and staff, and directly to our clients.
	www.deloitte.com /dtt/section_node/0,1042,sid=72454,00.html (619 words)

	Globeinvestor.com: Embraer Announces First Quarter 2004 Results in US GAAP
		The company's operating and financial information is presented, except where otherwise stated, on a consolidated basis in United States dollars (US$) in accordance with US GAAP.
		Because these swaps are not accounted for as hedging transactions under U.S. GAAP, these swaps are recorded at fair value on its balance sheet with unrealized gains and losses reflected as a component of interest income (expense), net.
		The difference between the statutory and effective US GAAP tax rate is mainly due to interest on shareholders equity provisions, which is deductible for tax purposes.
	www.globeinvestor.com /servlet/WireFeedRedirect?cf=GlobeInvestor/config&vg=BigAdVariableGenerator&date=20030618&archive=cnw&slug=c4976 (2491 words)

	[No title]
		Under U.S. GAAP, technology options and rights may not have alternate future uses and are therefore expensed as research and development costs.
		Under U.S. GAAP the Company recorded a compensation expense (offset by additional paid in capital in shareholders' equity) equal to the intrinsic value of the options.
		Under Canadian GAAP the effect of this change is recorded on a retroactive basis as an adjustment to prior years reported operations.
	www.freeedgar.com /EdgarConstruct/Data/945234/03-163/o09397exv99w1.txt (957 words)

	Business : Press Releases : HindustanTimes.com
		Therefore, the financial statements under US GAAP and Indian GAAP for the Bank are not comparable and these differences are expected to continue in future years.
		The statement that we expect the differences between US GAAP and Indian GAAP to continue in future years is a forward-looking statement based upon our assessment of the current differences between the two systems.
		These include possible changes in either Indian or US GAAP, changes in accounting policies or practices and changes in ICICI Bank's business or structure as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission.
	www.businesswireindia.com /Feeds/HT/bwirelease06859.asp (557 words)

	US GAAP adoption by firms set to increase
		The adoption of the US accounting principle serves as a clear indication that the companies are prepared to benchmark themselves on a global basis and adopt the highest transparency standards, said Bala.
		Bala said that the use of the US GAAP would help the corporates attract a much higher multiple on the bourses and it is visible in the stocks of most of the companise following the US GAAP.
		While in the US GAAP, consolidation of majority owned subsidiaries is required, in Indian standards it is not required.
	www.expressindia.com /fe/daily/19991010/fec10012.html (455 words)

	US GAAP (Site not responding. Last check: 2007-09-18)
		Differences between UK GAAP and US GAAP include results of the differing accounting treatment of pension costs, redundancy costs, intangible assets, goodwill, deferred taxation, capitalisation of interest, financial instruments, contributing assets to joint ventures and dividends.
		In its US GAAP reconciliation statement for the 2002 financial year, BT expects to adopt SFAS No. 133 on accounting for derivative instruments and hedging activities.
		We are currently assessing the impact of SAB 101 on the US GAAP reconciliations.
	www.btplc.com /report/1999-2000/fin_rev/us_gaap/main_1.htm (284 words)

	Ernst & Young announces publication of IFRS/US GAAP Comparison (Site not responding. Last check: 2007-09-18)
		Ford notes that the current requirement of the US Securities and Exchange Commission (SEC) for foreign listed companies to reconcile their financial statements to US GAAP is increasingly being challenged by many constituencies, including the European Commission.
		“We are encouraged that the US Financial Accounting Standards Board is now proposing a new US GAAP hierarchy that includes IFRS, and we hope that this might act as further encouragement to the SEC to remove the reconciliation requirement in the immediate future,” he says.
		IFRS/US GAAP Comparison is a comprehensive financial reporting reference work which compares and contrasts the requirements of International GAAP and US GAAP.
	www.eygcs.com /GLOBAL/content.nsf/South_Africa/01_Aug_05_EY_announces_publication_of_IFRS_US_GAAP_Comparison (879 words)

	US GAAP (Site not responding. Last check: 2007-09-18)
		In the United States, as well as other countries practicing English commonlaw system, the government does not set accounting standards, in the beliefthat the private sector has better knowledge and resources.
		The GAAP is not written in law,although the SEC requires that it be followed in financial reporting by publicly tradedcompanies.
		Amount and kinds of informationdisclosed should be decided based on trade-off analysis as larger amount of information costs more to prepare and use it.Information disclosed should be enough to make judgement while keeping costs reasonable.
	www.therfcc.org /us-gaap-9985.html (242 words)

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