international accounting chapter 04 powerpoint

international accounting chapter 04 powerpoint -...

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Choi/Meek, 6/e 1 International Accounting, 6/e Frederick D.S. Choi Gary K. Meek Chapter 4: Comparative Accounting: The Americas and Asia
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Choi/Meek, 6/e 2
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Choi/Meek, 6/e 3 United States Overview Financial Accounting Standards Board (FASB) Private-sector organization that determines accounting standards The Securities and Exchange Commission (SEC) – a governmental agency – underpins FASB’s authority Public Company Accounting Oversight Board (PCAOB) Private organization overseen by the SEC Regulates audits and auditors of public companies In 2002, took over the responsibility for setting auditing standards from the American Institute of Certified Public Accountants (AICPA) Financial statements “present fairly” Compliance with GAAP is the test for fair presentation
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Choi/Meek, 6/e 4 United States (contin) Unusual features of U.S. financial reporting No federal law for preparing financial statements or having them audited, except for listed companies
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This note was uploaded on 11/15/2010 for the course BUSI BUS taught by Professor Gg during the Spring '10 term at CUNY Baruch.

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international accounting chapter 04 powerpoint -...

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