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Financial Accounting Standards Board

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Presently the dominant body in the development of accounting priciples is the?

Presently, the dominant body in the development of accounting principles is the Financial Accounting Standards Board (FASB) in the United States. FASB is responsible for establishing and improving generally accepted accounting principles (GAAP). Additionally, the International Accounting Standards Board (IASB) plays a crucial role in the global context by developing International Financial Reporting Standards (IFRS), which aim to unify accounting practices across different countries. Both organizations significantly influence accounting standards worldwide.


Within the US the dominant body in the primary development of accounting is the what?

Within the U.S., the dominant body in the primary development of accounting is the Financial Accounting Standards Board (FASB). FASB establishes and improves financial accounting and reporting standards through its standard-setting process. Its work is crucial for ensuring transparency and consistency in financial reporting among organizations. Additionally, the American Institute of Certified Public Accountants (AICPA) plays a significant role in promoting accounting standards and practices.


What is a difference between public and private accounting?

Public accounting includes any accounting work that a company performs for another company. Examples would be audits, tax compliance, consulting, etc. The "Big 4" (KPMG, Deloitte & Touche, PriceWaterhouseCoopers, and Ernst & Young) are the dominant firms that provide public accounting services. Private accounting is accounting work that is done for your own company. Every company has some form of an internal accounting department and those employees would be considered private accountants.


What is a dominant portfolio?

Dominant Portfolio is part of the efficient frontier in modern porfolio theory. If a portfolio has a higher expected return than another portfolio with the same level of risk, a lower level of expected risk than another portfolio with equal expected return or a higher expected return and lower expected risk than the the portfolio is dominant.


What is spread sheet application?

A spreadsheet is a computer application that simulates a paper, accounting worksheet. It displays multiple cells that together make up a grid consisting of rows and columns, each cell containing either alphanumeric text or numeric values. A spreadsheet cell may alternatively contain a formula that defines how the content of that cell is to be calculated from the contents of any other cell (or combination of cells) each time any cell is updated. Spreadsheets are frequently used for financial information because of their ability to re-calculate the entire sheet automatically after a change to a single cell is made. Visicalc is usually considered the first electronic spreadsheet (although this has been challenged), and it helped turn the Apple 2 computer into a success and greatly assisted in their widespread application. Lotus 1-2-3 was the leading spreadsheet when DOS was the dominant operating system. Excel now has the largest market share on the Windows and Macintosh platforms.

Related Questions

Presently the dominant body in the development of accounting priciples is the?

Presently, the dominant body in the development of accounting principles is the Financial Accounting Standards Board (FASB) in the United States. FASB is responsible for establishing and improving generally accepted accounting principles (GAAP). Additionally, the International Accounting Standards Board (IASB) plays a crucial role in the global context by developing International Financial Reporting Standards (IFRS), which aim to unify accounting practices across different countries. Both organizations significantly influence accounting standards worldwide.


Within the US the dominant body in the primary development of accounting is the what?

Within the U.S., the dominant body in the primary development of accounting is the Financial Accounting Standards Board (FASB). FASB establishes and improves financial accounting and reporting standards through its standard-setting process. Its work is crucial for ensuring transparency and consistency in financial reporting among organizations. Additionally, the American Institute of Certified Public Accountants (AICPA) plays a significant role in promoting accounting standards and practices.


Is it normal for the dominant arm to be bigger than the non-dominant arm?

Yes, it is normal for the dominant arm to be slightly bigger and stronger than the non-dominant arm due to increased use and muscle development.


Is it normal for your dominant arm to be bigger than your non-dominant arm?

Yes, it is normal for your dominant arm to be slightly bigger and stronger than your non-dominant arm due to increased use and muscle development.


Is your dominant arm bigger than your non-dominant arm?

In most people, the dominant arm is usually stronger and slightly bigger than the non-dominant arm due to increased use and muscle development.


When will western civilization end?

Western civilization will remain a dominant force in global development until a more dominant sociological phenomenon rises to supplant it.


Why is incomplete dominance considered an exception to Mendel's principles of inheritance?

Incomplete dominance is considered an exception to Mendel's principles of inheritance because it results in a blending of traits, rather than the dominant trait completely masking the recessive trait as seen in Mendelian genetics. This leads to a unique inheritance pattern where neither allele is fully dominant, breaking the traditional rules of dominant and recessive traits established by Mendel.


Factors that affect your growth and development?

hereditary traits,dominant traits,thyroid gland


What is a difference between public and private accounting?

Public accounting includes any accounting work that a company performs for another company. Examples would be audits, tax compliance, consulting, etc. The "Big 4" (KPMG, Deloitte & Touche, PriceWaterhouseCoopers, and Ernst & Young) are the dominant firms that provide public accounting services. Private accounting is accounting work that is done for your own company. Every company has some form of an internal accounting department and those employees would be considered private accountants.


What did Gregor Mendel learn that we continue to study?

Gregor Mendel discovered the principles of inheritance through his experiments with pea plants, leading to the development of modern genetics. His work laid the foundation for our understanding of genetic traits, heredity, and the principles of dominant and recessive genes. Scientists continue to study Mendel's laws to better understand how traits are passed down from one generation to the next.


Why is my dominant arm bigger than my non-dominant arm?

Your dominant arm is likely bigger than your non-dominant arm because you use it more frequently and with more strength for tasks like writing, lifting, and other activities, which can lead to increased muscle development.


What are the fundamental principles of chord progressions in music theory?

The fundamental principles of chord progressions in music theory involve the movement of chords in a sequence that creates a sense of tension and resolution. This is achieved through the use of harmonic relationships, such as the tonic-dominant relationship, and the use of functional harmony, where chords have specific roles like tonic, dominant, and subdominant. These principles help create the structure and emotional impact of a piece of music.