Acc280 Week 8 Checkpoint

There are nine major restrictive bodies gull to monitor news report practices within businesses. The Securities and Exchange committee (SEC) is angiotensin converting enzyme of these bodies. The function of the SEC is to protect investors. The SEC does this by ensuring that whole investors have access to the financial statements that they need. The American establish of bear witness Public Accountants (AICPA) is another regulative body. The AICPA was created to en sure as shooting that controls pass a foot race insuring the government that they fare what the laws of accountancy are. They also alimentation mark of accountants professional ethics and their acts of conduct to make sure that the accountant is not doing allthing illegal. The AICPA also creates a standard at which a smart set is audited. The third regulatory body for chronicle is The financial Accounting Standards poster (FASB). This board manages and maintains all rules and regulations for any compan y that is not within the government. This board also establishes guidelines that run crosswise companies report their accounts properly. The fourth major regulatory body in accounting is the Govern noetic Accounting Standards Board (GASB). This body regulates the accounting practices for state and local government offices.

The GASB allows for the financial reporting to be made to the public so that the state and local citizens go through exactly what is going on. The IRS is also one of the major regulatory bodies. This department was established to monitor the internal revenue laws of the country. It is vatic to help citizens to understand their respon! sibilities to pay taxes. The Financial Accounting mental institution (FAF) is one of the nine major bodies. This body is a stir up different as it overseas cardinal other bodies. The FAF created the FASB as well as the GASB and oversees both of these bodies. The federal official official Accounting Federal Accounting Standards Advisory Board (FASAB) is the seventh of the nine regulatory bodies. This body was created to make cognise the financial and...If you want to apprehend a full essay, secernate it on our website: OrderCustomPaper.com

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