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Is the financial accounting standards advisory board the same as the federal accounting standards board?
The Financial Accounting Standards Board (FASB) is a private organization (within the Financial Accounting Foundation) that issues financial accounting and reporting standards for nongovernmental entities.
What has the author Venita M Wood written?
Venita M. Wood has written: 'Auditing governmental financial statements' -- subject(s): Accounting, Auditing, Financial Accounting Foundation, Financial Accounting Foundation. Governmental Accounting Standards Board, Local finance, Public Finance, Standards, States
Who is the FASB held accountable to?
Financial Accounting Foundation (FAF)
What is accounting assumption?
accounting assumptions provide a foundation for recording the transactions and preparing the financial statements there from.
What body has defined the purpose of financial accounting and reporting?
The basic foundation of governmental financial accounting and reporting in the United States was established by the Governmental Accounting Standards Boards (GASB) in its "Objectives of Financial Reporting,"
What are the difference between cost accounting and financial accounting?
Prime role of cost accounting is to calculate the cost per unit of product produce while financial accounting deals with financial reporting of company's performance.
In what year was FAF organized?
The FAF is the Financial Accounting Foundation. The FAF oversees the Financial Accounting Standards Board and the Governmental Accounting Standards Board. It was organized in 1972 as an independent private sector organization.
When was the Governmental Accounting Standards Board established?
The Governmental Accounting Standards Board (GASB) was organized in 1984 under the auspices of the Financial Accounting Foundation.
The Governmental Accounting Standards Board was created under the auspices of what organization?
The Governmental Accounting Standards Board was created under the auspices of the Financial Accounting Foundation.
Why is Financial Account?
Financial accounting is important because they play a vital role in the every field of life. Mostly in all types of business financial accounting is used.
What are the three major business activities in which accountants play a major role?
Financial Accounting, Managerial Accounting, and Auditing.
What are the roles of Management in Accounting?
The role of management levels in accounting is to get full information about the financial position in the organization to get the decision
