Accounting standards are set in the united states in

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Reference no: EM13614253

Accounting standards are set in the United States in theprivate sector. Public hearings and written documents providefeedback during development of the standards. Opportunity isprovided to those affected by standards to contribute informationto standard-setting organizations such as the FASB.

Required: List the major steps in the standard-setting process. Explain the purpose of each of the primary documents thatresults from the process.

Reference no: EM13614253

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