What is the International Accounting Standards Board
100
Explains how the accounts and amounts have been determined in the financial statements
What is the Notes to the Financial Statements
200
Company executives, managers, and employees that control business resources
What is agents
200
Type of companies that the SEC has legal authority to prescribe accounting principles and reporting practices for.
What is companies that issue publicly traded securities
200
Provides timely guidance on new, specific accounting issues
What is the Emerging Issues Task Force (EITF)
200
The two authorities that are trying to converge accounting standards
What is FASB and IASB
200
This statement is a snapshot of the resources of a firm and the claims on the firm as of a specific date
What is Balance Sheet
300
Problems arising from parties not having the same information
What is information asymmetry problems
300
A report used to describe significant events that have affected or may affect the company
What is Form 8-K
300
Created to simply user access, ensure US GAAP is accurately codified, and created a research system that is up to date
What is the FASB Accounting Standards Codification
300
Accounting standards used internationally
What is International Financial Reporting Standards (IFRS)
300
Order that financial statements are prepared?
What is Income Statement, Statement of Stockholder's Equity, Balance Sheet, and Statement of Cash Flows
400
What managers use to measure and report relevant and representationally faithful financial statements to investors and creditors.
What is accounting standards
400
A report used when management requests the right to vote for shareholders at shareholders' meetings.
What is proxy statement
400
Name three of the six levels of the Codification framework
What is Areas, topics, subtopics, Sections, subsections, and paragraphs
400
Parent organization to the IASB
What is IFRS Foundation
400
Calculation for net income
What is Revenues minus Expenses plus Gains minus Losses
500
External, independent experts in accounting who can carefully evaluate a company's accounting records and verify whether the company has applied accounting standards fairly and consistently.
What is an independent auditor
500
Delegated by the SEC to set accounting standards for US companies.
What is the FASB
500
Accounting standard setting began in the US in 1938 when the AICPA formed the
What is Committee on Accounting Procedure (CAP)
500
Name two of the six principles of the AICPA Code of Professional Conduct
What is Responsibilities, the public interest, integrity, objectivity and independence, due care, and scope and nature of services
500
Financial statement that is not required by US GAAP