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2025/2026 Wall Street Prep EXAM What is the primary purpose of US GAAP? - ANSWERS-What is the primary purpose of US GAAP? In the US, the Securities and Exchange Commission ("SEC") authorizes the Financial Accounting Standards Board (
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2025/2026 Wall Street Prep EXAM What is the primary purpose of US GAAP? - ANSWERS-What is the primary purpose of US GAAP? In the US, the Securities and Exchange Commission ("SEC") authorizes the Financial Accounting Standards Board ("FASB") to determine the set of accounting rules followed by publicly traded companies. Under FASB, financial statements are required to be prepared in accordance with US Generally Accepted Accounting Principles ("US GAAP"). Throug...
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