Ethical And Legal Obligations

Ethical and Legal Obligations Introduction The chronicle profession has been ceremonious since the early 1900s. The profession has continued to develop in coiffe to the needs of users of financial statements for financial information to support decisions and advised judgments. This paper will discuss the various accountancy standards and their relationships, accounting system theories, and evaluate the role of ethics in accounting. Financial score Standards Board The Financial Accounting Standards Board (FASB) was organized in 1973.

FASB has been recognized as the designated organization in the private sector for establishing standards of financial accounting and repo rting. They are officially recognized by Securities Exchange Commission as being authoritative. The council at march consists of 30 members who are broadly representative of preparers, auditors and users of financial information. The standards tackle the preparation of financial reports and are essential to t...If you want to be a full essay, order it on our website: OrderEssay.net

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