FASB Codification and Careers in Accounting

May 11th, 2015
Studypool Tutor
Stanford University
Price: $10 USD

Tutor description

FASB Codification and Careers in Accounting Briefly explain the primary advantages of having a codification of generally accepted accounting principles. Also, recommend two (2) areas where the FASB can improve codification. Briefly summarize the outlook of future jobs in the accounting field. Give your opinion on the type of skills that will be needed to accounting fulfill the jobs in the future. Also, discuss the manner in which you will prepare yourself for a job in the accounting field.

Word Count: 468
Showing Page: 1/3
CodificationThe main objective of FASB to codify the Generally Accepted Accounting principles (GAAP) is to feel the customers satisfied and plush by providing all relevant information of one standard in one place without the help of Securities and Exchange Commission (SEC). The codification was applicable after the year ended 15 September, 2009. The codification structured the whole GAAP into 90 topics and some sub-topic. [Financial Accounting Foundation (2008)]Primary advantage of codification in GAAP is that there will be no other GAAP. And if someone needs solution of a comprehensive problem he/she can find the answer of it in few pages in little time. There will be no confusion between the overlapping of rules because every person used its own sources for accounting and reporting formats. Some took guidance from Security and Exchange Commission (SEC). After codification there wi

Review from student

Studypool Student
" AMAZING as always! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1830 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors