ACC305_Week1_Discussions - DISCUSSION 1 Research Case 1-3...

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DISCUSSION 1 Research Case 1-3 Access the FASB home page on the Internet. The web address is . Answer the following questions. 1. Describe the mission of the FASB. The mission of the FASB is to establish and improve standards of financial accounting and reporting that foster financial reporting by nongovernmental entities that provides decision-useful information to investors and other users of financial reports. 2. Who are the current Board members? Briefly describe their backgrounds. Robert H. Herz is the current FASB chairman. Before joining the FASB, he was PricewaterhouseCoopers' North America Theater Leader of Professional, Technical, Risk & Quality and a member of the firm’s Global and U.S. Boards. He also served as a part-time member of the International Accounting Standards Board (IASB). Mr. Herz is both a certified public accountant and a chartered accountant. Thomas J. Linsmeier is an award-winning teacher and researcher with particular expertise in financial reporting for derivatives and risk-management activities. He served as academic fellow and special consultant to the Office of the Chief Accountant at the U.S. Securities and Exchange Commission (SEC). Leslie F. Seidman managed her own firm, providing consulting services to major corporations, accounting firms, and other concerns. She was also vice president of accounting policy at J.P. Marc A. Siegel is an expert in forensic accounting and led the Accounting Research and Analysis team at the RiskMetrics Group, he was also the director of research at the Center for Financial Lawrence W. Smith spent five years as FASB director–technical application and implementation activities. He joined the FASB staff in 2002 after a distinguished 25-year career at KPMG, he is a past member of the Technical Standards Subcommittee of the Professional Ethics Committee
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This note was uploaded on 08/14/2011 for the course ACC 305 taught by Professor B.forde during the Spring '11 term at Ashford University.

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ACC305_Week1_Discussions - DISCUSSION 1 Research Case 1-3...

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