Explore BrainMass

Explore BrainMass

    What is the Importance of the Mission of the FASB?

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    What is the importance of the mission of the FASB?

    297 words

    © BrainMass Inc. brainmass.com June 4, 2020, 12:46 am ad1c9bdddf

    Solution Preview

    The FASB's mission (from their site www.fasb.org) is:

    The Mission of the Financial Accounting Standards Board

    "The mission of the FASB is to establish and improve standards of financial accounting and reporting that foster financial reporting by nongovernmental entities that provides decision-useful information to investors and other users of financial reports. That mission is accomplished through a comprehensive and independent process that encourages broad participation, ...

    Solution Summary

    Discussion is in everyday language suitable for novice to intermediate. Includes comments about IASB.