Audit report gaap generally accepted accounting

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ements is fairly presented. (Audit Report) GAAP: Generally Accepted Accounting Principles, developed to provide guidelines for financial accounting practices. Currently FASB (Financial Accounting Standards Board) has responsibility for developing accounting standards. Organizations that influence current practice: • FASB: Financial Accounting Standards Board (establishes GAAP today) • SEC: Securities and Exchange Commission (determines financial statement rules for public companies) • PCAOB: Public Company Accounting Oversight Board (auditing standards) • AfPA: American Institute of Certified Public Accountants: Professional association of CPAs IASC: International Accounting Standards Board: Developing...
View Full Document

This note was uploaded on 01/22/2014 for the course ACG 2021 taught by Professor Linkovich during the Spring '08 term at University of South Florida - Tampa.

Ask a homework question - tutors are online