GAAP Logic is an open source accounting research site at the crossroads of technology and the ever-evolving world of accounting guidance. Much of today’s accounting guidance is very complex and sometimes incomprehensible. Applying accounting standards often requires a great deal of experience, judgment and, regrettably, the ability to understand the language used by the FASB.
Before Sarbanes-Oxley (SOX), auditors had some discretion around helping their clients determine the correct accounting for transactions. SOX put an end to this and now companies are largely on their own to figure this out or hire subject matter experts.
Enter GAAP Logic. We employ decision logic and plain-English help to walk you through the FASB’s Accounting Standards Codification and other sources of generally accepted accounting standards. We’re taking on the most difficult subjects as both a proof of concept and to confirm our belief that accounting guidance can be made accessible.
Are we accomplishing that? You be the judge. We’d love to have your input and feedback.