U.S. GAAP

Generally Accepted Accounting Principles
in the United States

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GAAP

Study

Recognition and Measurement
in Financial Statements of Business Enterprises
(SFAC No. 5)

U.S. GAAP by Topic

Statements of Financial Accounting Standards (SFAS)

SFAC No. 5

Statement of Financial Accounting Concepts (SFAC) No. 5
        a. Recognition and Measurement in Financial Statements of Business Enterprises
        b. Issued in December 1984

SFAC No. 5 includes the concepts of

Financial Statements

Full Set of Financial Statements

Purposes of Financial Statements

Recognition

Recognition Criteria

Relevance

Reliability

Recognition of Revenues

Recognition of Expenses

Recognition of Gains

Recognition of Losses

Recognition of Changes in Assets

Recognition of Changes in Liabilities

Other Statements of Financial Accounting Concepts (SFAC)

SFAC No.	Title	Issue Date
1	Objectives of Financial Reporting by Business Enterprises	November 1978
2	Qualitative Characteristics of Accounting Information	May 1980
3	Superseded by SFAC No. 6
4	Objectives of Financial Reporting by Nonbusiness Organizations	December 1980
5	Recognition and Measurement in Financial Statements of Business Enterprises	December 1984
6	Elements of Financial Statements	December 1985
7	Using Cash Flow Information and Present Value in Accounting Measurements	February 2000

Other Accounting Topics

Inventory Valuation Methods

Depreciation Methods

Revenue Recognition Principle

Accrual Basis vs. Cash Basis Accounting

Basics of Journal Entries

Ratios for Financial Statement Analysis

U.S. GAAP by Topic

Statements of Financial Accounting Standards (SFAS)

	Wiley GAAP 2008: Interpretation and Application of Generally Accepted Accounting Principles 2008 Paperback Edition CD-Rom Edition Book & CD-Rom Edition
	Wiley CPA Exam Review 2007-2008: 2 Volume Set 2 Volume Set Volume 1: Outlines and Study Guides Volume 2: Problems and Solutions
	Wiley CPA Exam Review 2007: 4 Volume Set 4 Volume Set Financial Accounting and Reporting Business Environment and Concepts Regulation Auditing and Attestation