USA Accounting and Auditing: Practices, Standards, and Key Principles

This report provides an overview of accounting practices and auditing standards in the USA. It begins by defining accounting and auditing, highlighting the importance of GAAP (Generally Accepted Accounting Principles). The report then delves into the specifics of the US economy, its financial market, and the role of multinational corporations headquartered there. It discusses the CPA (Certified Public Accountant) designation and the auditing standards and practices regulated by state, federal, and self-regulatory organizations. The document concludes by emphasizing the importance of GAAP in ensuring accurate financial reporting in the US. Desklib provides access to similar solved assignments and study resources for students.