Ethical and Legal Obligations Introduction The chronicle profession has been effected since the early 1900s. The profession has continued to develop in solution to the needs of users of financial statements for financial information to support decisions and conscious judgments. This paper will discuss the various accountancy standards and their relationships, be theories, and evaluate the role of ethics in accounting. Financial bill Standards Board The Financial Accounting Standards Board (FASB) was organized in 1973. FASB has been recognized as the designated organization in the private sphere for establishing standards of financial accounting and reporting. They are officially recognized by Securities Exchange Commission as being authoritative. The council at shew consists of 30 members who are broadly representative of preparers, auditors and users of financial information. The standards govern the preparation of financial reports and are essential to t. ..If you want to contribute a full essay, order it on our website: OrderCustomPaper.com
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