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Write three arguments in favor of the SEC setting Accounting Standards in the US, and present...

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Accounting

Write three arguments in favor of the SEC setting AccountingStandards in the US, and present three arguments in favor of theFASB setting Accounting Standards in the US.

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US ACCOUNTING STANDARDSETTING PROCESS THE ROLE OF SEC AND FASB IN THE SETTING OF ACCOUNTING The SECs Role in Financial Reporting Standards Security exchange commission SEC The SEC is on the front line of financial reporting and often is among the first to identify emerging issues and areas of accounting that need attention The Securities and Exchange Commission SEC was created by congress with the 1934 Securities Exchange Act The statutes administered by SEC are designed to promote full public disclosure and to protect the investing public against fraudulent and manipulative practices in the securities market The 1933 Securities act set forth accounting and disclosure requirements for initial    See Answer
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Write three arguments in favor of the SEC setting AccountingStandards in the US, and present three arguments in favor of theFASB setting Accounting Standards in the US.

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