Explain from where the securities and exchange commission

Assignment Help Accounting Basics
Reference no: EM131102745

1. (Securities and Exchange Commission) The U.S. Securities and Exchange Commission (SEC) was created in 1934 and consists of five commissioners and a large professional staff. The SEC professional staff is organized into five divisions and several principal offices. The primary objective of the SEC is to support fair securities markets. The SEC also strives to foster enlightened stockholder participation in corporate decisions of publicly traded companies. The SEC has a significant presence in financial markets, the development of accounting practices, and corporation-shareholder relations, and has the power to exert influence on entities whose actions lie within the scope of its authority.

(a) Explain from where the Securities and Exchange Commission receives its authority.

(b) Describe the official role of the Securities and Exchange Commission in the development of financial accounting theory and practices.

(c) Discuss the interrelationship between the Securities and Exchange Commission and the Financial Accounting Standards Board with respect to the development and establishment of financial accounting theory and practices. 

Reference no: EM131102745

Questions Cloud

Monopolistic competition is characterized by free entry : If all production processes were subject to constant returns to scales for all output levels, monopolistic competition would not lead to the problem of “excess capacity”. Monopolistic competition is characterized by free entry and exit so in the long..
Determine the improvement in the output snr : Determine the improvement (in decibels) in the output SNR that results if the modulation index is increased from 0.6 to 0.9.
Evaluate impact of change on people processes and products : Analyze organizational factors associated with business high performance. Evaluate the impact of change on people, processes, products and organizations.
What is the firm profit maximizing output level : Consider a widget maker with an average variable cost curve, AVC = 20 + 4q, and fixed costs of $280. The market price is $100 per widget. What is the firm's total cost function? What is the firm's profit maximizing output level? Is the firm profitabl..
Explain from where the securities and exchange commission : Describe the official role of the Securities and Exchange Commission in the development of financial accounting theory and practices.
Vulnerabilities in the tested environment : The Software Development Life Cycle (SDLC) includes testing to ensure applications meet business requirements, functions as planned, and ensures the data contained within the cannot be compromised. A security assessment identifies vulnerabilities ..
Constant cost industry with large number of identical firms : Consider a perfectly competitive, constant cost industry with a large number of identical firms. Why is this industry not in long run equilibrium? Explain in words and graphs what changes will take place to bring the industry to an equilibrium point...
Show the region of satisfactory system performance : Repeat for a DSB system. Plot both curves on the same set of axes.
Select a non-profit cybersecurity organization : Organizations may outsource their security functions due to financial and talent reasons. In this case, organizations need to ensure their contractors meet its security needs, abide by their Risk Management Strategy, and align with their organizat..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Health service professional it is imperative

The effects of child abuse and neglect can last a lifetime. As a health service professional it is imperative that you can distinguish between the varying types of child abuse and neglect and what policies are in place to deal with these offenses ..

  The collection of accounts receivable is recorded

The collection of accounts receivable is recorded by a:A)Debit to Cash and a debit to Accounts Receivable.B)Credit to Cash and a credit to Accounts Receivable.C)Debit to Cash and a credit to Accounts Receivable.D)Credit to Cash and a debit to Account..

  Prepare all the entries

Assume the same information as in the previous problem except that the bond was purchased at 95. Prepare all the entries.

  Elston company issued 450000 of 11 20-year bonds at 108 on

elston company issued 450000 of 11 20-year bonds at 108 on january 1 2010. interest is payable semiannually on july 1

  Markets and the role of ethics in capitalism

Once you have read the extract by Sen, attempt the review and discussion questions1-3 and 5 (ignore 4) on p.165, and be prepared to discuss your answers with your colleaguesin your tutorial.

  What will be the accounting entry

A machine costing Rs. 10.0 million and having book value of Rs. 6.5 million was traded-in with another machine having a fair market value of Rs. 7.0 million with an additional cash payment of Rs. 1.0 million. what will be the accounting entry?

  Prepare a multi step income statement

Prepare a Multi step income statement that would be used for internal reporting purposes. Treat Sales Discounts and Sales Returns and Allowances as contra-revenue accounts, and report all expenses separately. Prepare a Multi step income statement tha..

  Deductions for business travel

In April 2011, Dan is audited by the IRS for the year 2009. During the course of the audit, the agent discovers that Dan's deductions for business travel and entertainment are unsubstantiated

  Callaham corporation is a wholesaler that sells a single

callaham corporation is a wholesaler that sells a single product. management has provided the following cost data for

  Boyne inc had beginning inventory of 13700 at cost and

boyne inc. had beginning inventory of 13700 at cost and 28700 at retail. net purchases were 147850 at cost and 175000

  Contribution the property to the partnership

Would your answers to (a) and (b) change if Gabriella originally contributed the property to the partnership in 1999?

  The miles company books for its previous errors

Miles Company began 2010 with a retained earnings balance of $142,400. During an examination of its accounting records on December 31, 2010, the company found it had made the following material errors, for both financial reporting and income tax repo..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd