Advanced Accounting
Advanced Accounting
14th Edition
ISBN: 9781260247824
Author: Joe Ben Hoyle, Thomas F. Schaefer, Timothy S. Doupnik
Publisher: RENT MCG
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Chapter 12, Problem 17Q
To determine

Describe how SEC affects the development of generally accepted accounting principles in the United States.

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Discuss the methods by which the SEC can influence the development of generally accepted accounting principles in the United States.
In what way is the Securities and Exchange Commission concerned about and supportive of accounting principles and standards?
What are some of the differences between International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles (GAAP)? What are some advantages and disadvantages of adopting IFRS in the US?
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