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Also financial accounting is performed according to General Accepting Accounting Principles (GAAP) guidelines.
The Securities and Exchange Commission (SEC), Financial Accounting Standards Board (FASB), Federal Accounting Standards Advisory Board (FASAB), Governmental Accounting Standards Board (GASB), IRS, and other regulatory bodies set accounting standards and requirements for accounting frequency and presentation.
Security and Exchange Commission
The mission of the SEC is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation (www.sec.gov, 2008)...
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