Std+setting+_+regulation+assignment

Std+setting+_+regulation+assignment - Team Assignment #1:...

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Team Assignment #1: Accounting standard setting and the FASB’s conceptual framework 1. Accounting standard setting and regulatory bodies a. Explain the roles that the SEC, the FASB and the PCAOB play in accounting standard-setting and regulation in the United States. Include in your discussion a description of how these three organizations relate to each other. a.i. Are the goals of these organizations consistent with each other? If not, point out and discuss any potential inconsistencies, and discuss problems that could arise from conflicting goals among different bodies. b. Visit the website of the US Securities and Exchange Commission (www.sec.gov). What is the purpose of this organization? List the current commissioners and the Chairman. Indicate which, if any, have backgrounds in accounting and/or a CPA license. c. Visit the website of the Financial Accounting Standards Board (www.fasb.org). What is the purpose of this organization? List the current board members and the Chairman. Indicate which, if any, have backgrounds in accounting and/or a CPA license. d.
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This note was uploaded on 03/27/2012 for the course ACC 321 taught by Professor Staff during the Spring '08 term at Miami University.

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Std+setting+_+regulation+assignment - Team Assignment #1:...

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