• April 29, 2022
  • David Marks
  • 0

AC 107 Week 1 Discussion New

Who’s Who in Accounting:

Who is the SEC? What is their role in the financial markets of the United States?
Who is the FAB? What is their role in accounting and the preparation of financial reports?
In your own words explain what is meant by Generally Accepted Accounting Principles.
Who is the BIAS? Do you think that the United States should change its rules for accounting in order to meet the goal of requiring uniform financial statements throughout the world?
In light of the recession of 2008/2009 and economic problems created during that time, do you think that the SEC was doing a good job? Why or why not?
What is the Purpose of Accounting:

Identify and describe the four user groups normally interested in financial information. What kind of information is needed by each of these groups?
There are several professional certifications available to accountants. Explain the roles of the Certified Public Accountant (CPA), Certified Management Accountant (CAM), and Certified Internal Auditor (CIA).
If you were planning a career in accounting which of these certifications would you be interested in earning?  Why?
Would you Like to Own your Own Business (Optional for secondary posting): Have you ever considered owning your own business? If so, what business would it be? Would it be a service, merchandising, or manufacturing business? Explain what form of ownership structure you would prefer and why.

David Marks

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