The Financial Accounting Standards Board (FASB) is currently:
A)pushing for major changes in GAAP
B)creating international accounting regulations
C)calling for the repeal of Sarbanes-Oxley
D)encouraging accountants to serve as their clients' advisors
E)lobbying to change the format of the balance sheet so it can reflect a more ethical environment

Question

Quizplus · Accepted Answer

The Financial Accounting Standards Board (FASB) is known for its role in developing and improving the Generally Accepted Accounting Principles (GAAP) in the United States. It often pushes for changes and updates in GAAP to ensure that it remains relevant and reflects the current economic environment and the needs of users of financial statements.

The Financial Accounting Standards Board (FASB) Is Currently