Rwt1 Business Report Essay

2419 Words Jan 11th, 2013 10 Pages
Business Research Report
Impact of FASB on Company A

Presented to: CEO of Company A
Assessment Code: RWT1 Table of Contents

Executive Summary 3
Introduction 4
Research Findings 4
FASB History 4 Public Corporation Requirements (GAAP) 5
Investor Impact 6
Recommendations 7
Conclusion 8
References 9

Executive Summary
The purpose of this report is to research the accounting and reporting standards of the Financial Accounting Standards Board (FASB) and report the impact FASB may have on our company. The following research explains the history and purpose of FASB, the accountability requirements on public corporations, the effectiveness of FASB in setting standards in order to improve financial reporting in the public
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As CPA of this company, I have completed research to define and evaluate some of the key accounting and reporting requirements of the FASB (including GAAP), the impact these requirements may have on our company and how the investment community feels about the imposed FASB standards. Research will prove that by implementing FASB standards and adhering to GAAP, will lead to a positive company reputation and ultimately growth as we gain new investors.
My research concentrates on three specific areas:
1. The history of the FASB
2. FASB requirements imposed on public corporations
3. The impact that FASB has on the investment community and the level of satisfaction of the investment community as it pertains to these imposed requirements.

FASB History
Research: The Financial Accounting Standards Board (FASB) was founded in 1973 as a private and independent organization governed by the Securities Exchange Commission (SEC). The organization’s primary purpose is to establish the rules and standards of Generally Accepted Accounting Principles (GAAP) for the interest of the public. (“Facts about FASB”) “Since its inception in 1973, the FASB has issued 168 Statements of Financial Accounting Standards and a series of concepts statements”. (Facts about FASB, n.d.) The FASB's mission is "to establish and improve standards of financial accounting and reporting for the guidance and education of the public,

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