FASB Accounting Standards Codifications are the current evolution of US Accounting Standards that are referred to as GAAP. When we speak in GAAP we are referring to US based Generally Accepted Accounting Principles. GAAP is an Accrual based and Rules Based system where you Accounting is driven by more extensively defined guidelines (the IFRS).

IASB is the International Accounting Stanards Board based in London in the UK. Currently our profession is in an analysis process of wether to continue with Long Standing US GAAP or to move to IFRS. From the International Business Community Standard IFRS is a desired platform for the reduction in rules it offers an more open descriptive format. It also is an effort to introduce a more standardized International Accounting System for the Issuance of Financials and for General Comparability cross-borders.

Follow our link here to PICPA (PA Institute of CPAs) for a brief overview on Rules Based (GAAP) vs, Principles Based (IFRS)


OCBOA - Other Comprehensive Basis of Accounting. There are many additional basises of Accounting that may influence your accounting as Cash Basis, Modified Accrual Basis or other basis like Tax, Regulatory, Governmental.

We will elaborate more with time - drop by for updates as we have time to continue or reference range here for your awareness.

Tax Law emerges from Federal, State and Local sources and is the guiding Legal Framework to Tax Accounting.

We deal with the comprehensive range of Client needs that connect to Federal, Multi-State and Local Taxation where Financial, Accounting, Tax, Legal Research skills and the ability to work closely with the IRS help us to deliver solid support on  Client needs for Tax Reporting, Analysis and Compliance. Link to our page on Taxes & Taxation

The Guiding Rules on CPAs come from your State Laws - in acknowledgement of the importance of Mobility Many states now permit Out of State CPAs to work with you through Reciprocity - increasing your consumer options on Services. It is always recommended that you perform corresponding research as you would with any Financial product or service decision. An Educated Consumer is a good customer. We support the education of Financial Consumers through supporting Financial Knowledge and outreach support on Investor Protection Awareness (IPA) in support of  and as members of a broader Financial Community of responsible professionals who care about the Public Interest on Services and building Public knowledge through Financial Education to support needs we all share at the Local, State and Federal Levels on Financial Decision Making support. 

Quick Contact Link: info@dcarsoncpa.com

The AICPA is a strong Resource point for ALL CPAs in Practice here are some related links to updates on AICPA - Financial Reporting, Tax, Valuations. IT and Forensics for your awareness.