Securities and exchange commission, Accounting Standards

Formed under the Securities and Exchange Act of 1934 the SEC (Securities and Exchange Commission) is a government agency that administers important acts dealing with the interstate sale of securities (stocks and bonds). The Securities and Exchange Commission has the authority to prescribe accounting and reporting practices for companies under its jurisdiction. This comprises virtually every major US business corporation. In its place of exercising this power the Securities and Exchange Commission has adopted a policy of working closely with the accounting profession especially the FASB in the development of accounting standards. The Securities and Exchange Commission indicates to the FASB the accounting topics it believes the FASB should address.

Posted Date: 6/29/2013 7:19:14 AM | Location : United States







Related Discussions:- Securities and exchange commission, Assignment Help, Ask Question on Securities and exchange commission, Get Answer, Expert's Help, Securities and exchange commission Discussions

Write discussion on Securities and exchange commission
Your posts are moderated
Related Questions
Explain the procedure followed in government system of accounting in india

In 1973 and independent seven-member full-time Financial Accounting Standards Board (FASB) replaced the Accounting Principles Board. The FASB has published numerous Statements of F

Standardization in UK and USA: although the Institute of Chartered Accountants in England and Wales began creating recommendations as 1942, real progress started along with the es

Explain in Details Return on Investment

You have learned about the business and its proprietor is reacted as separate entities. It implies that separate accounts must be kept in the ledger for recording transactions amon

how much does a paper costs regarding differences and similiarities of gaap and ifrs for 4 companies


journal entry and balance sheet for acquisition

During 2011, Lavina Corporation had cash and credit sales of $94,000 and $91,000, respectively. The company also collected accounts receivable of $53,400 and incurred expenses of

i buy machine 70% cash 30% installments.i have charged 100% cost to asset and capital so when i pay first installment i debit installment expense and credit bank so my question is