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US GAAP (Generally Accepted Accounting Principles) refers to the accounting standards and guidelines used for financial reporting in the United States. These principles are established by the Financial Accounting Standards Board (FASB), an independent organization recognized as the authority for setting accounting standards in the country.

US - Canada GAAP Accounting provides a framework for preparing and presenting financial statements to ensure consistency, comparability, and transparency.It outlines specific rules and procedures for recording, measuring, and disclosing financial information. Here are some key features of US - Canada GAAP Accounting:

• 1. Accrual Basis: US GAAP requires companies to use the accrual basis of accounting, where transactions are recorded when they occur, rather than when cash is received or paid.
• 2. Materiality: Financial statements should include material information that could influence the decisions of users. Materiality is determined based on the nature and amount of an item or its potential impact on financial statements.
• 3. Going Concern: The assumption is made that a company will continue its operations indefinitely unless there is evidence to the contrary. Financial statements are prepared under this assumption.
• 4. Full Disclosure: US GAAP mandates the disclosure of all relevant and material information that could impact the financial statements. This includes footnotes, supplementary schedules, and additional disclosures.
• 5. Consistency and Comparability: Financial statements should be prepared using consistent accounting policies from one period to another. This allows for meaningful comparisons of financial information between different periods and companies.
• 6. Historical Cost: US GAAP generally requires the use of historical cost as the basis for recording assets and liabilities in financial statements. However, there are exceptions where fair value accounting is applied.
• 7. Revenue Recognition: US GAAP provides specific guidance on when and how to recognize revenue. It follows the principle of revenue recognition when it is realized or realizable and earned.
• 8. Matching Principle: Expenses should be recognized in the same period as the related revenues, following the matching principle. This principle ensures that expenses are properly allocated to the periods in which they contribute to revenue generation.
• 9. Consistency in Reporting: US GAAP aims for consistency in financial reporting across different companies and industries. However, there may be industry-specific standards or guidance that companies need to follow in addition to the general principles.
• 10. Industry-Specific Guidance: US GAAP provides specific guidance for industries with unique accounting issues, such as banking, insurance, oil and gas, and software development. These industries may have additional rules and disclosures tailored to their specific operations.

It's important to note that accounting standards are subject to change over time. Companies and accountants should stay updated on the latest developments and revisions to US GAAP through the FASB's pronouncements and updates.

A CPA (Certified Public Accountant) LLC firm provides a range of accounting services related to US GAAP. These services are typically offered to businesses, organizations, and individuals to help them meet their financial reporting and compliance requirements. Here are some common US - Canada GAAP Accounting services provided by CPA LLC firms:

• 1. Financial Statement Preparation: CPAs assist in the preparation of financial statements in accordance with US GAAP. This includes the preparation of the income statement, balance sheet, statement of cash flows, and statement of changes in equity.
• 2. Financial Statement Analysis: CPAs analyze financial statements to provide insights into a company's financial performance, profitability, liquidity, and solvency. They may perform ratio analysis, trend analysis, and benchmarking to help clients understand their financial position.
• 3. General Ledger Maintenance: CPAs maintain and reconcile general ledger accounts, ensuring that transactions are properly recorded, classified, and summarized in accordance with US GAAP.
• 4. Bookkeeping Services: CPAs may provide bookkeeping services to record and classify financial transactions, maintain accurate records, and ensure compliance with US GAAP. This includes recording journal entries, reconciling bank accounts, and managing accounts payable and receivable.
• 5. Revenue Recognition Assessment: CPAs help businesses assess and implement proper revenue recognition practices in accordance with US GAAP. They provide guidance on recognizing revenue from sales of goods, services, long-term contracts, and other complex arrangements.
• 6. Expense Recognition and Accruals: CPAs assist in determining the appropriate timing and recognition of expenses, including the accrual of expenses and provisions for contingent liabilities, in accordance with US GAAP.
• 7. Lease Accounting: With the implementation of the new lease accounting standard (ASC 842), CPAs can help clients navigate the complexities of lease accounting and ensure compliance with the standard's requirements.
• 8. Financial Reporting Compliance: CPAs ensure that financial statements are prepared in compliance with US GAAP and applicable regulations. They review financial disclosures, footnotes, and supplementary schedules to ensure accuracy and completeness.
• 9. Technical Accounting Research and Guidance: CPAs provide guidance on complex accounting issues and help clients interpret and apply US GAAP principles to specific transactions or situations. They research authoritative accounting literature and provide recommendations for proper accounting treatment.
• 10. Internal Controls and SOX Compliance: CPAs assist businesses in designing, implementing, and evaluating internal controls to ensure the accuracy and reliability of financial reporting. They also help companies comply with the requirements of the Sarbanes-Oxley Act (SOX).
• 11. Financial Advisory and Consulting: In addition to compliance services, CPAs may provide financial advisory and consulting services. This includes financial planning, budgeting, forecasting, mergers and acquisitions, due diligence, and other strategic financial consulting services.

It's important to note that the specific services offered by a CPA LLC firm may vary depending on their expertise, resources, and client needs. Clients should consult with the firm to determine the specific services they require and to ensure they receive accurate and compliant financial reporting in accordance with US GAAP.