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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 937 |
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The FASB standards are generally known for the general accepted accounting principles (GAAP) and they govern the preparation of corporate financial reports. The FASB is recognized as authoritative by the Securities Exchange and Commission. Because accounting standards are crucial in an efficient market, the FASB requires organizations to ensure that the information they submit is transparent, credible, and understandable...
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The FASB is recognized as authoritative by the Securities Exchange and Commission. Because accounting standards are crucial in an efficient market, the FASB requires organizations to ensure that the information they submit is transparent, credible, and understandable. This allow the FASB to improve corporate accounting practices by enhancing the guidelines set forth in the financial reports such as identity of issue and resolving of issue within a timely manner...
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