- Mc Lean US-VA
A business analyst, Abhishek Dutta resided in Cleveland, Ohio while attending Case Western Reserve University to earn his MBA. The former Cleveland resident has worked for Barclays Capital and Freddie Mac, among other investment banking and trading companies. In his most recent role at Freddie Mac, Abhishek Dutta utilized his knowledge of fair value accounting and general accepted accounting principles (GAAP) to carry out his responsibilities. GAAP is governed by the Securities and Exchange Commission, Financial Accounting Standards Board, and Governmental Accounting Standards Board. The principles are set guidelines and procedures for financial reporting among publicly traded companies in the United States. Adhering to standardized rules ensures financial professionals such as accountants and auditors maintain consistent practices and transparency of their company’s financial standing. In addition, it reduces a company’s ability to commit fraud and misinterpret their finances. Used as a tool to safeguard stakeholders, GAAP provides valuable information needed to analyze company financial statements for investment purposes. Financial statements cover outstanding share measurements, revenue recognition, and balance sheet item classification. By evaluating this information, stakeholders can confidently and fairly determine which companies meet their financial portfolio goals.