미국기업회계기준(US-GAAP)에 관한 고찰-규범적 특성과 최근 동향을 중심으로

In this paper, I studied the U.S. GAAP from the perspective of history, standard setter, procedures, normative characteristics, scope of application and recent trends. As a result, the following implications can be obtained. First, regarding the requirements of standard setter, if standard setter works properly constituent's need should be reflected timely and appropriately. At the same time it should not be influenced by constituent unfairly. Currently FASB has fulfilled such requirements through long period of trial and error. On the contrary, IASB, which establishes our financial accounting standards, is particularly vulnerable to the latter side, namely financial independence. In this regard, it is necessary to have an opportunity to reconsider the appropriacy of the adoption of IFRS. Second, in U.S traditionally private organizations such as FASB has taken charge of some parts of legislative activities. This phenomenon is somehow inevitable to keep pace with the increasingly complicated economic life of modern era. Therefore, in U.S. the legal theories on the grounds and limits of private legislative activities have been well developed. As we also have experienced the same phenomenon, the foregoing theories can be referred to our cases. Third, the federal securities act conferred just the quasi-law status and also the majorities of state corporation acts do not legalize the US-GAAP. Considering legal problems that arises from the legalizing of GAAP, there is a need to consult the legislative approach of the United States. Finally, there is a need to pay sustained attention to US-GAAP since for a considerable period to come, US-GAAP and IFRS is expected to coexist.