What is the name of the book that NFP and government professionals need to be familiar with? A. The green book B. The red book C. The yellow book D. The black book
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What is the name of the book that NFP and government professionals need to be familiar with?
A. The green book
B. The red book
C. The yellow book
D. The black book
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- Presented below are three models for setting GAAP. 1. The purely political approach, where national legislative action decrees GAAP. 2. The private, professional approach, where GAAP is set and enforced by private professional actions only. 3. The public/private mixed approach, where GAAP is basically set by private-sector bodies that behave as though they were public agencies and whose standards to a great extent are enforced through governmental agencies. Instructions a. Which of these three models best describes standard-setting in the United States? Provide justification for your answer. b. Why do companies, financial analysts, labor unions, industry trade associations, and others take such an active interest in standard-setting? c. Cite an example of a group other than the FASB that attempts to establish accounting standards. Speculate as to why another group might wish to set its own standards.Discuss the role of the government in supporting MFIs to realize the intended goals citing what MFIs need to do to remain relevantDesign a guideline for selecting a public policy evaluation method in your organization
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- What is the policy function performed by bodies such as the FASB and the SEC?List and discuss the three sources of inputs to the policy-making function.15. Which of the following is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession? a. FASB b. CMA c. CIMA d. IFACWhy does Emerging Issues Task Force (EITF) was formed?
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