What Are the Generally Accepted Accounting Principles (GAAP)? More From Built In’s Tech Dictionary What Is Financial Accounting? law requires all publicly traded companies, or companies releasing financial statements to the public, to follow GAAP principles. When advising on the set up of a local subsidiary or company, a merger or acquisition, or some other form of global expansion, Horizons can support your business: They ensure that you have the necessary support to compile compliant financial statements as required under the law.U.S. Horizons supports business expansion across global locations. This may require preparing several sets of financial statements, compliant with each applicable systems. If seeking investment from a foreign entity, businesses also need to consider the standards that are expected by that foreign entity. In the US, this accounting system is known as ‘GAAP’.īusinesses operating internationally need to carefully consider the accounting standards that apply across all their international locations. Many countries follow the international accounting standards known as IFRS, but many important economies, such as the US, China and Japan apply their own system. Global compliance means being familiar with all the accounting standards that apply to the operation of your business.
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