Essay: Financial Accounting Standards

Sample Essay

Words 1,230

This is an essay on financial accounting standards. The Financial Accounting Standards Board (FASB or Board) and its parent organization, the Financial Accounting Foundation (FAF), convince the criteria in section 108 of the Sarbanes-Oxley Act of 2002 and, accordingly, FASB’s financial accounting and reporting standards are accepted as “generally accepted” for purposes of the federal securities laws.

33-8350  Commission Guidance on MD&A

This guidance is intended to obtain more momentous disclosure in MD&A in a number of areas, including the general presentation and focus of MD&A, with common stress on the debate and analysis of known trends, demands, commitments, events and reservations, and specific guidance on disclosures about liquidity, capital resources and critical accounting estimates.

33-8221 Commission Statement of Policy Reaffirming the Status of the FASB as a Designated Private-Sector Standard Setter

The Financial Accounting Standards Board (FASB or Board) and its parent organization, the Financial Accounting Foundation (FAF), convince the criteria in section 108 of the Sarbanes-Oxley Act of 2002 and, accordingly, FASB’s financial accounting and reporting standards are accepted as “generally accepted” for purposes of the federal securities laws. Accordingly, registrants are required to continue to fulfill with those standards in preparing financial statements filed with the Commission, unless the Commission directs otherwise.

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