Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

US and UK GAAP: important differences for financial statement preparers and users

US and UK GAAP: important differences for financial statement preparers and users Notes that despite moves towards the international harmonization of accounting standards, some important differences remain between UK and US generally accepted accounting principles which affect the comparability of their financial statements. Outlines the development of the UK accounting profession, accounting standards and the regulatory environment, including company law, before discussing the specific differences between UK and US accounting treatment of assets, liabilities, foreign currency translations etc. and in reporting and disclosure requirements. Briefly considers the underlying reasons for them and stresses the importance of understanding them for accountants, investors, security analysts etc. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Managerial Finance Emerald Publishing

US and UK GAAP: important differences for financial statement preparers and users

Alan Reinstein; Thomas R. Weirich
Managerial Finance , Volume 28 (1): 14 – Jan 1, 2002
Download PDF
14 pages

Loading next page...
 
/lp/emerald-publishing/us-and-uk-gaap-important-differences-for-financial-statement-preparers-Z1yaGLls4o

References (2)

Publisher
Emerald Publishing
Copyright
Copyright © 2002 MCB UP Ltd. All rights reserved.
ISSN
0307-4358
DOI
10.1108/03074350210767645
Publisher site
See Article on Publisher Site

Abstract

Notes that despite moves towards the international harmonization of accounting standards, some important differences remain between UK and US generally accepted accounting principles which affect the comparability of their financial statements. Outlines the development of the UK accounting profession, accounting standards and the regulatory environment, including company law, before discussing the specific differences between UK and US accounting treatment of assets, liabilities, foreign currency translations etc. and in reporting and disclosure requirements. Briefly considers the underlying reasons for them and stresses the importance of understanding them for accountants, investors, security analysts etc.

Journal

Managerial Finance – Emerald Publishing

Published: Jan 1, 2002

Keywords: Accounting standards; Harmonization; United Kingdom; USA

There are no references for this article.