Explain the role of the FASB in monitoring and controlling business reporting and accounting practices in the modern organization. In what ways do FASB rules limit business practices and reporting financial information? How do such rules and regulations protect the business and public stakeholder communities? To whom is the FASB accountable and who appoints members to FASB?
The paper must include the following
- Identify the main issues in the chosen area and accurately respond to each of the questions from the chosen area.
- Build upon class activities by referencing new learning that has occurred.
- Present specific current and/or future applications and relevance to the typical workplace.