Cycling back to Accounting, FASB, GAAP and the Simple Truths in A=L+OE

We spend time in broad areas to demonstrate Our wide ranging ability to support decision makers in ways that include but are not Limited to Accounting, Taxation, Advisory, Consulting, Financial Analysis, Business Analysis, Financial Modeling, Regulatory Compliance Consulting and more. We consider the connection between Government, Industry, Business, Non Profits and Individuals with the connecting line of support to Financial Decision Makers in many varied capacities with differing needs in Financial Services and Management Information. We are a solution set for broad and focused needs.

But when we return to the core skill set it comes from a Knowledge base built on the Financial Foundation of knowledge of Accounting. Accounting is the Key Decision Making tool that supports Corporate Finance, Financial Analysis, Controls, Capital Markets and much more. While we continue to expand our skills to the path of Legal and Advanced Finance through the Analyst Training path we are always remaining in close connection to GAAP and emergent IFRS. You have seen in Our Blog here much of Our Regulatory and Governmental services knowledge but less so of Our Knowledge of US GAAP as produced at FASB. So for a moment we return your Focus to US GAAP the comprehensive standard set for US Businesses.

Where IFRS provides a more open Concept driven framework to reporting, GAAP is the Rules driven set of Accounting Principles that has already been tested and proven in relationship to tough US Regulatory Standards and the highly Litigated landscape of US Business so for the time being we will Focus on GAAP but you need to know that we are actively engaged on IFRS as well, so at a subsequent point  or where you need us to we will cover IFRS too.

In it's current evolution as Accounting Standards Codifications we meet US GAAP as developed by FASB and the community of Accounting Constituents - Producers and Users of Financial Statements benefitted by the new more accesible rules presentation under FASB ASC as they continue to be updated for user friendly updates. We gain strong comfort that the Foundation of Assets = Liabilities + Owners (or Shareholders) Equity (A=L+OE) remain constant and the comfort that the controls, the reconcilitations, the analyses and the core Financial Statements remain relatively constant as consistency has been a key part of the conceptual framework of US GAAP.

FASB US GAAP Accounting Standards Codifications have for several years now been off the old plan of Standards by Number and now reflect the more intuitive approach of breakdown into :

General Principles
Presentation Standards
Assets
Liabilities
Equity
Revenues
Expenses
Broad Topics
Industry Standards

They present a more useable format now that is easier to connect with relevant data on an intuitive level, but don't let the ease of presentation mislead you there is still an ART to Accounting a key knowledge and ability is required to connect substantive transactions to Accounting Treatments in Financials. To foresee the many points in Accounting Data and Reporting Chains that can influence your ability to optimize and utilize Accounting as the tool it is for Management and Investment Decision Making support. We use our years of hands on ownership of Financials, Operations and elements of Financials and Operations in Entities ranging from Fortune 500 to Small and Medium in size, the applied knowledge of Accounting, Accounting Systems, Operations and Analysis tools and support of the various classed of Users of Accounting Information to better support your Business, Non Profit, Governmental and Individual decision making on Financial Matters. We will add some transactional coverage to Our Blog the key points and we are equally interested that you understand the depth of knowledge we can bring to Our Clients on Services accross the spectrum.

Visit us at www.dcarsoncpa.com to learn more or contact us at info@dcarsoncpa.com we are here to cover your needs and the broad knowledge we carry is to add additional value on support services for your needs as a Client in Our Capacity as Trusted Advisors. We care about the Standards, Ethics, your Business, your Finances and the greater role for good that CPAs support in the National Economy in compliance with FASB, Tax and other Regulatory Standards. We work within the framework of Traditional and Strategic CPA Services to bring you knowledge that adds value for Management Decision Makers.