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The overall goal of these accounting regulatory bodies is to set rules and regulations and help improve the standards of financial accounting for every organization. There are four accounting regulatory bodies that are very well known and considered the main accounting regulatory bodies that set the standards for all of the organizations.
The first regulatory body is the Financial Accounting Standards Board or FASB for short. “The mission of the FASB is to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors, and users of financial information” (Financial Accounting Standards Board, n...
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