Although the SEC recognizes pronouncements from the FASB as constituting GAAP, in some instances the SEC's disclosure requirements exceed GAAP.

Question

Quizplus · Accepted Answer

The SEC (Securities and Exchange Commission) has its own set of disclosure requirements for public companies, which in some cases are more extensive than the guidelines set by the FASB (Financial Accounting Standards Board) under GAAP (Generally Accepted Accounting Principles).

Although the SEC Recognizes Pronouncements from the FASB as Constituting