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    SEC's current view of accounting standards

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    What is the SEC's current view of accounting standards for publicly held companies?

    © BrainMass Inc. brainmass.com June 4, 2020, 1:05 am ad1c9bdddf
    https://brainmass.com/business/accounting/sec-s-current-view-of-accounting-standards-377847

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    What is the SEC's current view of accounting standards for publicly held companies?
    The SEC feels that accounting standards for publicly held companies can help investors and markets during economic turmoil in the financial system. The SEC feels that an economic depression can be warded off by using objective and widely accepted accounting standards. SEC feels that accounting standards should offer a comprehensive framework and not an issue-by-issue basis. The SEC feels that the accounting standards should be such that they can be applied consistently across all situations in different companies.
    Compare and contrast FASB and IASB and the work they do?
    The FASB is entrusted with the development of the Generally Accepted Accounting Principles in "public interest" The FASB is a nonprofit organization. whereas the IASB is an ...

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