mission of the fasb, History

Assignment Help:

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?


Related Discussions:- mission of the fasb

What factors led to the rise of the new south explain, What factors led to ...

What factors led to the rise of the new south and what resulted?

What was the significance of the home for the victorians, What was the 201C...

What was the 201C cult of domesticity? What was the significance of the home for the Victorians? What was the importance of the parlor in terms of Victorian notions about the

What was the role of the supreme court explain, What was the role of the Su...

What was the role of the Supreme Court in the demise of Jim Crow? The Executive branch? And, Congress? Why were these actions necessary?

What was the freedmen''s bureau, 1. What were two of the most important que...

1. What were two of the most important questions during Reconstruction? How were they resolved? 2. What was Lincoln's Plan like, and why was it criticized? Congress's Plan? Andr

Development of new mythos, Compare and contrast the development of new myth...

Compare and contrast the development of new mythos in both the Jewish and Muslim faith prior to 1700. What was happening in Europe and the Muslim empires that led to the need for n

What was the goal of the european countries, what was the goal of the europ...

what was the goal of the european countries (spain, england, france) during the age of exploration? what was important to the settlers of spain during the age of exploration?

Explain the motives that motivated europe, Explain the motives that motivat...

Explain the motives that motivated europes 15th century overseas exploration and expansion and the new technologies that made it possible

Appliances in the us during the 1st half of the 20th century, Identify 2 wo...

Identify 2 women who influenced the design of home appliances in the US during the 1st half of the 20th century.

What did the romans decide not to have in their society, when they overthre...

when they overthrew the Etruscans in 510 BCE, what did the Romans decide not to have in their society? a) Taxes b) A monarch c) Class distintions d) slaves

What has caused such polarization among the electorate, One hundred and for...

One hundred and forty-five (145) years after the end of the Civil War, the United States elected its first black President. In the primary, Barack Obama was running against a white

Write Your Message!

Captcha
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