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
with the introduction of Christianity to areas like Hibernia (ancient Ireland) and the British Isles, as well as to the Franks and later the Goths, almost immediately we see this n

What is Douglass's point in denying connection to the holiday about which he had been invited to speak?

a) What types of national political visions facilitated American expansion westward? b) What land policies, treaties/purchases, and wars/military endeavors secured and populated th

What role did Iran play in American foreign policy between 1953 and 1977? In what ways did President Carter seek a new approach to foreign policy? What implications did this have f

How do you think the American colonists are influenced by the concepts of absolutism, John Locke and the Glorious Revolution of 1689?

Fill in the blank: 1)This teacher articulated the ethical and religious ideas of Persia 2) Form of poetry exemplified by the Odyssey 3) The Mediterranean Triad was 4) The city-stat

What is an example of policing? What specific events in the history of policing most influenced present-day policing?

How has the Social Contract (theory of political philosophy) been significant in the history of the United States?

Explain how a final German victory in Europe (including Great Britain) might have affected the United States in terms of our trade and defenses

After 1763, what methods of control did Parliament use against the colonies? Which methods worked? Which failed? Which backfired