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The FASB issues accounting standards in the form of: Financial Accounting Standards. Financial Technical Bulletins. Accounting...

The FASB issues accounting standards in the form of:

Financial Accounting Standards.

Financial Technical Bulletins.

Accounting Standards Updates.

Accounting Research Bulletins.

Solutions

Expert Solution

The correct choice is “Accounting Standard Updates”.

The Committee on Accounting Procedure was a part-time committee constituted by The American Institute of Certified Public Accounts. This committee issued various accounting research bulletins from 1938 to 1959 totaling 51.

Financial technical bulletins are the publications issued by the Research Staff of Financial Accounting Standard Board (FASB). These documents help in interpreting the exiting literature.

Financial accounting standards determined U.S. GAAP with the establishment of Financial Accounting Standard Board (FASB) in 1973. Until mid-2009, the FASB issued Statements of Financial accounting standards, Interpretations, Technical bulletins, Emerging Issues Task Force Statements etc.    

From July 2009, the accounting standards codification of the Financial Accounting Standard Board is the single source of non-governmental U.S. GAAP. The Financial Accounting Standard Board updates the accounting standards codification whenever new standards are issued.

ekkarill92 answered 2 years ago
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