Assignment Help - homework help

  Financial Accounting Standards Boards

Introduction to FASB

The FASB (Financial Accounting Standards Boards) is private, not-for- profit organization whose main aim is to develop usually accepted accounting principles in the United States (US GAAP). The mission of FASB for the private sector is identical to that of the Governmental Accounting Standards Board for local and state governments in the United States. The FASB was formed in year 1973, replacing the Accounting Principles Board of the American Institute of Certified Public Accountants (AICPA). The FASB's mission is 'to establish and enhance standards of financial accounting and reporting for the assistance and education of the public, involving auditors, issuers, and users of financial information."

2395_Structure of FASB Homework Help.jpg

Figure: structure of FASB.

The U.S. SEC (Securities and Exchange Commission) has statutory authority to establish financial accounting and reporting standards for publicly held companies within Securities Exchange Act of 1934.

The SEC selected the FASB as the organization that accountable for setting accounting standards for public companies in the U.S. FASB has until now issued 158 Statements of Financial Accounting Standards (FAS).

Components of US GAAP

There are significant components of US GAAP described below:

  • FASB Statement of Financial Accounting Standards (FAS).
  • FASB Interpretations (FIN).

FASB Statements of Financial Accounting Concepts (FAS Conc.)

  • FASB Technical Bulletins (FTB).
  • AICPA Accounting Research Bulletins (ARB).
  • AICPA Accounting Principles Board Opinions (APB Opinions)
  • AICPA Accounting Interpretations (AIN)

Not only there are a very large number of different standards within US GAAP, the volume and complexity is also rising. This complexity of US GAAP makes it very significant that the independent accountants that are assisting a company in filing along with SEC are acknowledgeable and experts in US GAAP.

Latest technology based Financial Accounting Online Tutoring Assistance

Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Financial Accounting Standards Boards homework help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Financial Accounting Standards Boards, project ideas and tutorials. We provide email based Financial Accounting Standards Boards homework help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Financial Accounting Standards Boards. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Financial Accounting homework help and assignment help services. They use their experience, as they have solved thousands of the financial accounting assignments, which may help you to solve your complex issues of Financial Accounting Standards Boards. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
Home | Company Overview | Services | Discover Q&A | Sitemap | Contact Us | T & C | Refund Policy | Copyright Policy | Blog | Q&A | Directory

©TutorsGlobe All rights reserved 2022-2023.