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Terms in this set (18)
Income Statementreports the amount of net income earned by a company during a period, with annual and quarterly income statements being the most common.IRSthe bureau of the Treasury Department responsible for tax collectionsInternational Accounting Standards Board (IASB)An accounting standard-setting body that issues standards adopted by many countries outside of the United StatesInternational Financial Reporting Standards (IFRS)similar to GAAP, set of accounting standards and interpretations developed by IASBManagerial Accountingthe INTERNAL use of accounting statements by managers in planning and directing the organization's activitiesPublic Company Accounting Oversight Board (PCAOB)Board of five full-time members established by the Sarbanes-Oxley Act to oversee the accounting and auditing profession. SEC appoints board members.SECcreated in response to crash in 1929. To regulate the U.S. Stock Exchanges. Charged to make sure investors are provided with full and fair financial information.Statement of Cash Flowsreports the amount of cash collected and paid out by a company in: Operating Investing Financing