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Accounting Regulatory Bodies
University of Phoenix
ACC 300 Principles of Accounting
Kristina Tontis
February 8, 2008


Accounting is to provide information that is needed to make reliable economic decision. Financial accounting is to prepare financial reports that provide information about an organization's performance to external audiences (investors, creditors, and regulators) although they are widely used internally as well. Also financial accounting is performed according to General Accepting Accounting Principles (GAAP) guidelines.
The Securities and Exchange Commission (SEC), Financial Accounting Standards Board (FASB), Federal Accounting Standards Advisory Board (FASAB), Governmental Accounting Standards Board (GASB), IRS, and other regulatory bodies set accounting standards and requirements for accounting frequency and presentation.
Security and Exchange Commission
The mission of the SEC is to protect investors, maintain fair, orderly, and efficient markets,...

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Title: Accounting Regulatory Bodies
Approximate word count: 548
Approximate pages: 3 (250 words per double-spaced page)

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