In this article we will discuss about the financial reporting of securities and exchange commission. The Work of the Securities and Exchange Commission: In the United States, the responsibility for ensuring that complete and reliable information is available to investors lies with the Securities and Exchange Commission (SEC), an independent agency of the federal government created by the Securities Exchange [...]
With so much money at stake, the need for not-for-profit organizations to provide adequate and fairly presented financial information is understandable. Current and potential contributors and other interested parties want to know how financially stable these organizations are and how they use the monies they receive. Future gifts or grants are often based, at least in part, on the organization's [...]
Accounting Assumptions: Underlying assumptions for the preparation and presentation of financial statements are accrual and going concern. Accrual assumption: The effects of transactions and other events are recognised when they occur (and not as cash or its equivalent is received or paid) and they are recorded in the accounting records and reported in the financial statements of the periods to [...]