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    Mission of the Financial Accounting Service Board

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    This file contains a formatted MS Word file containing a descritption of the mission, policies, and procedures of the financial accounting service board. As well as answering the question: should the FASB reduce the financial accounting choices available for management to select from when setting accounting policies?

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    https://brainmass.com/business/financial-accounting-bookkeeping/mission-of-the-financial-accounting-service-board-147099

    Solution Preview

    For your convenience, I have attached a formatted MS Word file containing the text below.

    Accounting Theory

    Should the FASB reduce the financial accounting choices available for management to select from when setting accounting policies?

    No, the Financial Accounting Service Board should not reduce the financial accounting choices available for management to select from, as allowing the FASB the ability to take such actions might quite possibly elevate the FASB to a position where it might arbitrarily establish standards that are neither in the best interest of the issuers, nor the users of financial information.

    For example, the choice of inventory methods for U.S. companies "is assumed to reflect the tax savings choice made by the ...

    Solution Summary

    This file contains a formatted MS Word file containing a descritption of the mission, policies, and procedures of the financial accounting service board.

    $2.19

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