Intermediate Accounting (2nd Edition)
Intermediate Accounting (2nd Edition)
2nd Edition
ISBN: 9780134730370
Author: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Publisher: PEARSON
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Chapter 1, Problem 1.11BE
To determine

To explain: The role of the SEC in standard setting, both historically and currently.

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What are the goals of the SEC?
What is the SEC and what role does it play?
What is the policy function performed by bodies such as the FASB and the SEC?List and discuss the three sources of inputs to the policy-making function.
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