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Accounting Theory Case Study 1 CASE 1‐7 The FASB The FASB is the official body charged with issuing accounting standards. Required: a. Discuss the structure of the FASB. b. How are the Financial...

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Accounting Theory

Case Study 1

CASE 1‐7 The FASB

The FASB is the official body charged with issuing accounting standards.

Required:

a. Discuss the structure of the FASB.

b. How are the Financial Accounting Foundation members nominated?

Compose a two page, double-spaced, APA format (source citations and reference insertions) essay. Expand your recommendations as they are supposed to be the main, and most part of the second page of these. Please do not use Wikipedia as a source.

In your Case Study, you must use at least three (3) references including the textbook. (APA)

Book:

Schroeder, Richard G.; Clark, Myrtle W.; Cathey, Jack M.. Financial Accounting Theory and Analysis: Text and Cases, 12th Edition

(This is linked to Turnitin.)

Please use attached template(See cover letter attachment, and use as template)

gsb-requred-cover-page-and-template-1-tqsdzvua.docx
Answered Same Day Apr 30, 2021

Solution

Preeta answered on May 03 2021
155 Votes
Running head: SHORT TITLE OF PAPER (<= 50 CHARACTERS)
[Title of Paper]
[Student Name]
Saint Leo University
[Course/Number]
[Instructor Name]
May 2, 2019
Running head: SHORT TITLE OF PAPER (50 CHARACTERS OR LESS)    1
SHORT TITLE OF PAPER (50 CHARACTERS OR LESS)     4
Student Signature: [Type Full Name Here]
Abstract
[The FASB is the official body charged with issuing accounting standards. This paper discussed the structures of FASB and the process by which Financial Accounting Foundation members are nominated.]
[Financial Accounting Standards Board FASB]
Introduction:
Financial Accounting Standards Board (FASB) is a non-profit organization which is independent and not under the influence of any other body. It has the responsibility to establish accounting and financial reporting standards in the United States (US) for all the companies as well as for the non-profit organization (Schroeder, Clark & Cathey, 2009). Mainly it regulates the private sector companies. It was formed in 1973 in Norwalk, Conn and replaced Accounting Principles Board. It follows Generally Accepted Accounting Principles (GAAP).
The board is recognized by Securities and Exchange Commission (SEC), state accounting boards as well as the American Institute of Certified Public Accountants (AICPA). The board works in coordination with International Accounting Standards Board (IASB) to maintain the coordination in...
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