Posted: May 30th, 2016

Explain the role of the FASB in monitoring and controlling business reporting and accounting practices in the modern organization.

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?