FINANCIAL REPORTING & ANALYSIS

Financial Reporting & Analysis

Financial Reporting & Analysis

Financial Accounting Standards Board (FASB)

In 1973, a foundation was established with the name of FASB to formulate and improve standards of financial accounting and reporting for the public entities withi United States. In line with this mission, the Financial Accounting Standards Board (FASB) maintains Codification (Codification of Accounting Standards FASB TM). These codes are the authoritative source of accounting standards and reporting, On behalf of The Securities and Exchange Commission (SEC). The main ambition of FASB is to develop Generally Accepted Accounting Principles GAAP (FASB, 2011).

Accounting Issue and the Relevant Components

The ...