The Financial Accounting Standards Board (FASB) is a private organization (within the Financial Accounting Foundation) that issues financial accounting and reporting standards for nongovernmental entities.
The SEC stand for Security Exchange Commission is a federal agency that enforces the federal securities laws. The SEC also requires certain companies like publicly owned companies follow a certain accounting guidelines called Generally Accepted Accounting Principles or GAAP. This guidelines defines what kind of accounting public companies shall use and it defines fair accounting practices. The SEC work hand in hand with the Financial Accounting Standard Board to update laws and accounting practices. They also set new laws to ensure the fairness of accounting practicing.
FCA can be Full Cost Accounting, which is a method of accounting or False Claims Act (US federal law).
maintaining airplane safety standards
Deadlines for financial aid applications depend on your school's policy. However, if you are looking to receive federal financial aid, you must complete the online FAFSA (the federal application for financial aid) by June 30, 2011.
Pursuant to the Chief Financial Officers Act of 1990, a deputy director for management was established within the OMB to coordinate financial management functions with the various federal agencies
The Federal Accounting Standards Advisory Board (FASAB) was established in 1990.
FASAB's primary function is to make recommendations to the principals for financial accounting and reporting standards to be adopted for the U.S. federal government.
The government's first major attempt at the formalization of authoritative reporting standards was in 1917 with the Federal Reserve Board's publication of Uniform Accounting.
The IRS ? No....the SEC (Securities and Exchange Commission) would appear to have the most legal power in response to the establishment of standards. The FASB (Financial Accounting Standards Board), however, has been delegated this authority through the SEC, as long as they satisfy public interest.
In 2005 accounting firm of PricewaterhouseCoopers conducted the audit of the financial status of the Federal Reserve Bank of New York. Based on normal accounting principles, policies and practices, this accounting firm stated that the financial records of this bank correctly reflected its financial status. The report was sent to the Board of Governors of the Federal Reserve System and the board of directors of the Federal Reserve Bank of NY.
The GASB is responsible for establishing and improving accounting and financial reporting standards for all state and local governmental entities (including government-sponsored colleges and universities, health care providers, and utilities). The FASAB establishes accounting standards for the federal government. The FASB establishes standards for all other entities, including not-for-profit colleges and universities and health care providers.
The General Accounting Office (GAO) is the investigative arm of congress in Financial issues. It reviews the spending activities of Federal agencies, studies Federal programs, and it recommends ways to improve the financial performance of the government.
The General Accounting Office (GAO) is the investigative arm of congress in Financial issues. It reviews the spending activities of Federal agencies, studies Federal programs, and it recommends ways to improve the financial performance of the government.
auditing the financial expenditures of the executive branch and federal agencies
Among occupations in which accounting training is perceived to be valuable are budget officers, lending officials in banks, securities advisers, financial analysts, Federal Bureau of Investigation agents, and financial managers in not-for-profit entities
FAC (Federal Advisory Councel)
It created a new organizational structure for financial management, it encouraged the development of new and compatible accounting systems, and it required new forms of reporting.