| Business: A Changing World, 4/e O.C. Ferrell,
Colorado State University Geoffrey Hirt,
DePaul University
Accounting and Financial Statements
CybertrekCybertrek (3.0K)Cybertrek | Cybertrek 1 The Financial Accounting
Standards Board (FASB) has been the designated orgaization in the private
sector for establishing standards of financial accounting and reporting. Its
mission is to establish and improve standards of financial accounting and reporting
for the guidance and education of the public, including issuers, auditors, and
users of financial information. 1. List five general things that FASB does to accomplish its mission. 2. What precepts does the Board follow in the conduct of its business? 3. In your own words, briefly describe the FASB's vision for the future of
international accounting standards. | Cybertrek (3.0K)Cybertrek | Cybertrek 2 Arthur Andersen is listed in the
textbook as one of the "Big Five" public accounting firms. 1. Does "public accounting firm" accurately reflect the breadth of activities
that Arthur Andersen is involved with? Explain why or why not. 2. In your own words, describe the important of Arthur Andersen's guiding philosophy
in promoting its business. | Cybertrek (3.0K)Cybertrek | Cybertrek 3 Wall Street Research Network is one of the
most comprehensive resources for investors on the Internet. Visit the Web site
and write a two-page report on a company of your choice. Be sure to describe
the company's business, its industry, and key competitors. Also, compare the
company's most recent financial performance to previous years and to the industry. |
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