mission of the fasb, History

In 1934, Congress maked the Securities and Exchange Commission (SEC) and gave it both the power and responsibility for setting accounting and reporting standards in the United States. In 1973, the SEC designated the Financial Accounting Standards Board (FASB) as the organization responsible for setting accounting standards for public companies in the US. It changed the Committee on Accounting Procedure (CAP) and the Accounting Principles Board (APB) of the American Institute of Certified Public Accountants (AICPA). Thoroughly read the information on "What We Do." What are the two basic objectives of the 1933 Securities Act? Explain the mission of the SEC. Look at "Commissioners." How do you get appointed? Who are the chairman and the other commissioners? Describe the relationship among the SEC and the various private sector standard-setting bodies that have, over time, been delegated the responsibility for setting accounting standards. Can you think of any reasons why the SEC has delegated this responsibility rather than set standards directly?

Required: Explain the mission of the FASB. Look at "Our People." How do you get appointed? Who are the present Board members? Briefly explain their backgrounds. How are topics added to the FASB's technical agenda?

Posted Date: 3/19/2013 6:30:23 AM | Location : United States

Related Discussions:- mission of the fasb, Assignment Help, Ask Question on mission of the fasb, Get Answer, Expert's Help, mission of the fasb Discussions

Write discussion on mission of the fasb
Your posts are moderated
Related Questions
I need help with this: : Compare and contrast the arguments of the speeches of the Compromise of 1850 between Webster, Calhoun and Seward. Which argument do you find the most compe

Without the scientific advances pioneered previously in China and other parts of Asia and the Muslim world, would the Scientific Revolution of the 17th century been possible? Why o

Compare Fascism and Communism. Are they more similar or more different?

According to Streng, the cultural dimension of religion includes historical conditions Briefly define cultural dimension and then discuss some of the historical conditions during t

What were some of the key regional interest of each colony before the formation of Canada?

In American foreign policy, "appeasement" has become a dirty word. Yet, in the two centuries after 1607, the expansion of British America and of the United States was unwittingly a

Galton, Spencer and other 19th century thinkers believed that the new discoveries about evolution and genetics could be used in the service of social progress. Over the follow

Compare and contrast the ethical teachings and philosophical views of Buddhism, Confucianism, and Christianity. What principles did these systems share, and what made them unique?

Having examined the evidence, to what degree do you think the US was successful in following its policy of isolation in the years leading up to WWII?

Details: One of the most influential events in American history began in 1929, with the stock market crash. This event initiated a period of economic retraction and stagnation now