US GAAP
US GAAP (Generally Accepted Accounting Principles) is a set of accounting standards and principles established by the Financial Accounting Standards Board (FASB) that governs financial reporting in the United States. It provides a framework for businesses to prepare, present, and disclose their financial statements in a consistent and transparent manner, ensuring comparability between different companies and industries. US GAAP covers various topics such as revenue recognition, balance sheet classification, stock-based compensation, and leases, among others. By adhering to these principles, US GAAP aims to promote investor confidence, enhance financial reporting quality, and facilitate informed decision-making in the capital markets.