Thomson Reuters has released GAAP Reporter on its Checkpoint online tax and accounting research service.

The new GAAP Reporter solution provides U.S. finance and accounting professionals with insights and analyses to help them prepare company financial statements in compliance with U.S. GAAP.

“The GAAP Reporter, authored by Thomson Reuters expert accounting analysts, is designed to help professionals interpret the standards and apply them to real-world situations,” said Bruce Safford, senior director of Checkpoint content operations at Thomson Reuters. “Also, as FASB continues to issue new standards at a rapid pace, codification, guidance, and tools are quickly updated online in the GAAP Reporter, so that professionals are fully equipped to quickly adopt new practices and make decisions in their dynamic industry.”

The content is organized to mirror the section-by-section structure of FASB’s codification of U.S. GAAP. Authoritative guidance in the system includes common practices and pitfalls in applying the codification, illustrations of required disclosures, and examples of how best to perform the calculations. The system also includes SEC comment letters, differences between International Financial Reporting Standards and U.S. GAAP, and recent or pending updates to the codification to assist in decision-making activities.

Tools available include checklists, client letters, and memos to further streamline compliance activities. Multiple navigation options link between the codification, analysis and tools to allow the professional to create a personalized workflow experience.

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