Regulation of accounting
Key accounting terms
100

This event ultimately led to the passage of the Securities Act of 1933 and the Securities Act of 1934.

What is the stock market crash and great depression?

100
This system organizes accounting standards by topic.
What FASB's accounting standards codification (ASC)?


200

This act regulates the initial sale of a company's stock.

What is the Securities Act of 1933?

200

These principles provide standards of how companies are to measure and report financial statement information to external users.

What are generally accepted accounting principles (GAAP)?

300

This act regulates the secondary sale of a company's stock.

What is the Securities Act of 1934?

300

The standards issued under GAAP are given this name.

What are accounting standards updates (ASUs)?

400

This governmental agency oversees: the FASB, the PCAOB, and FINRA.

What is the Securities and Exchange Commission?

500

This organization creates the accounting standards that are used by US publicly traded companies.

What is the Financial Accounting Standards Board (FASB)?

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