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What body has defined the purpose of financial accounting and reporting?
The basic foundation of governmental financial accounting and reporting in the United States was established by the Governmental Accounting Standards Boards (GASB) in its "Objectives of Financial Reporting,"
What authority for compliance with GAAP has existed throughout the period of standard settings?
The Financial Accounting Foundation (FAF) is the private-sector organization with responsibility for the oversight, administration, and finances of the Financial Accounting Standards Board (FASB), the Governmental Accounting Standards Board (GASB), and their advisory councils, the Financial Accounting Standards Advisory Council (FASAC) and the Governmental Accounting Standards Advisory Council (GASAC). The FAF selects the members of the standard-setting Boards and Councils, and protects the independence of the Boards.
What is the meaning of IASB?
Illinois Association of School Boards Institut d'Aeronomie Spatiale de Belgique International Accounting Standards Board
What is the role of accounting and accounting information?
Think of accounting as the language of business. In order to communicate to investors, lenders, boards of directors and other stakeholders, it is critical that one is well versed in the language. Accounting records are the source information for financial statements which are used for many purposes including evaluating a business, making strategic decisions and assessing the health of an organization.
Which organizations either directly regulate or oversee accountants and auditors?
Accountants and auditors are primarily regulated by organizations such as the Public Company Accounting Oversight Board (PCAOB) in the United States, which oversees the audits of public companies. Additionally, the American Institute of Certified Public Accountants (AICPA) sets professional standards and ethics for CPAs. In many countries, national accounting boards or regulatory authorities also play a role in overseeing the profession, ensuring compliance with relevant laws and standards. Internationally, the International Federation of Accountants (IFAC) promotes global standards and practices for the accounting profession.
Does the chopping board meet health and safety standards?
Some chopping boards meet health and safety standards, and some do not.
What is the responsibility of the National Retail Federation's boards and committees?
These boards and committees formulate and implement policies, standards, guidelines, and strategies that are consistent with retail industry objectives.
How do I Check license of certified financial planner?
Well for this you can ask financial planners to provide you with their registration number and from which boards/authorities they are recognized.
Where can someone get a financial analysis manager?
One can find job opportunities for a financial analysis manager in various settings such as banks, financial institutions, consulting firms, corporate finance departments, and accounting firms. Additionally, they can check online job boards, professional networking platforms, and company websites for job listings specifically tailored to financial analysis and managerial roles in the finance industry.
What is the intended outcome of this Sarbanes-Oxley Act?
The Sarbanes-Oxley Act (SOX) was enacted in 2002 to enhance corporate governance and accountability in response to financial scandals, such as Enron and WorldCom. Its intended outcomes include improving the accuracy and reliability of financial reporting, establishing stricter regulations for financial disclosures, and protecting investors from fraudulent accounting practices. By imposing stringent penalties for non-compliance, SOX aims to restore public trust in the financial markets and ensure ethical behavior among corporate executives and boards.
What is the key function of audit committees?
They ensure that boards of directors fulfill their financial and fiduciary responsibilities to shareholders.
What regulatory body controls the practice of nursing?
In the United States, the practice of nursing is regulated by state boards of nursing. These boards are responsible for granting nursing licenses, setting standards of practice, and enforcing rules and regulations to ensure patient safety.
