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The Institute of Chartered Accountants of Nigeria (ICAN) Formation. 1 September 1965. Type. Professional association. Purpose. To encourage professionalism in accountancy in Nigeria. Headquarters. Plot PC. 16, Idowu Taylor Street, Victoria Island, Lagos.
The Institute of Certified Public Accountants of Kenya (ICPAK) was established in 1978 by the laws of Kenya under CAP 531 [2] to regulate the activities of all Certified Public Accountants by ensuring credibility, professionalism and accountability in the accounting profession in Kenya.
Financial accounting is a branch of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. This involves the preparation of financial statements available for public use.
Accounting standards are currently set by the Financial Accounting Standards Board and were historically set by the American Institute of Certified Public Accountants (AICPA) subject to U.S. Securities and Exchange Commission (SEC) regulations.
Accounting Principles Board Opinions, Interpretations and Recommendations were published by the Accounting Principles Board from 1962 to 1973. The board was created by American Institute of Certified Public Accountants (AICPA) in 1959 and was replaced by Financial Accounting Standards Board (FASB) in 1973. Its mission was to develop an overall ...
The Supreme Court rejected an attempt to undercut funding of the CFPB, a financial watchdog that has clashed with companies since being created after the 2008 financial crisis.
The Financial Accounting Standards Board (FASB) is a private standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States in the public's interest.
The U.S. Securities and Exchange Commission (SEC) declared the 1984 Issues Paper, "Identification and Discussion of Certain financial Accounting and Reporting Issues Concerning LIFO Inventories," as authoritative in 1985.
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. It involves preparing source documents for all transactions, operations, and other events of a business.
The Financial Accounting Foundation published its first draft of accounting rules for the FASB in October 1972. 1980s-1990s. In 1984, the FAF created the Governmental Accounting Standards Board (GASB) to set accounting standards for local and state governments. Private entities remained under the guidelines of the FASB.