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Specialist Accounting & Risk Management

US GAAP Compliance

Generally Accepted Accounting Practices (GAAP) are principles created through accounting practice that is used as a base standard for the industry. Their basic objectives are that financial reporting should provide information that is:

  • Useful in assisting potential creditors, investors and other users in making rational investment, credit, and other financial decisions
  • Useful in assisting potential creditors, investors and other users in making rational investment, credit, and other financial decisions
  • Presentable to potential investors, creditors and other users in assessing the amounts, timing, and uncertainty of prospective cash receipts
  • Explanatory of economic resources, the claims to those resources, and the changes in them
  • Valuable for making financial decisions
  • Helpful in making long-term decisions
  • Constructive in improving the performance of the business
  • Practical in maintaining records

US GAAP Financial Statement Preparation

One of the final steps in the accounting cycle is the preparation of the financial statements. Though often feared as a very intimidating portion of small business accounting and often seen as a time consuming affair for larger corporations, LehmanBrown is able to remove the stress and burden with its team of amenable and dedicated staff.

US GAAP Conversion

LehmanBrown can help you understand how changes to US GAAP affect your financial statements and assist you in making the complex accounting policy decisions required. Our team of specialist and experienced GAAP practitioners will aid you in supplementing a company’s accounting resources by providing real time advice to specific queries related to US GAAP.

How LehmanBrown can support

LehmanBrown is experienced in the preparation of US GAAP financial statements and our staff have first-hand experience of working in complex group structures within a listed environment, and can extract the necessary reports and projections required within US GAAP to comply with Fair Value Valuation. We are experienced in liaising with external valuation specialists where they’re needed, including complex US GAAP share-based payment valuations, intellectual property and valuation of financial investments and derivative financial instruments.

For more information concerning LehmanBrown’s US GAAP services or to make an enquiry, please contact us on enquiries@lehmanbrown.com