Question

P 1-6 Matching Acronyms Required Listed on the following page are phrases with the appropriate acron letter that goes with each definition

Answer 1

1) Accounting principles that have substantial authoritative support.	GAAP	a)
2) A task force of representatives from the accounting profession created by the FASB to deal with emerging issues of financial reporting	Emerging Issues Task Force (EITF)	r)
3) A Proposed Statement of Financial Accounting Standards	Exposure Draft	o)
4) Issued by the Accounting Standards Division of the AICPA to influence the development of accounting standards	Statements of Position (SOP)	q)
5) Created by the Securities Exchange Act of 1934.	Securities and Exchange Commission (SEC)	b)
6) A professional accounting organization whose members are certified public accountants (CPAs)	American Institute of Certified Public Accountants (AICPA)	d)
7) Issued official opinion on accounting standards between 1959-1973	Accounting Principles Board (APB)	f)
8)	Accounting Principles Board statement (APBS)	h)
9) This board issues four types of pronouncements: (1) Statements of Financial Accounting Standards (SFAS), (2) Interpretations, (3) Technical Bulletins, and (4) Statements of Financial Accounting Concepts (SFAC)	FASB	i)
10)	Financial accounting foundations (FAF)	J)
11)	Statements of Financial Accounting Standards(SFAS)	l)
12)	Statement of Financial concepts(SFAC)	m)
13)	Accounting Standard Executive Commitee(AcSEC)	p)
14) Presents all known facts and points of view on a topic; issued by the FASB	Discussion Memorandum (DM)	n)
15)	FASAC	K)
16)	APBOs	g)
17)	CPAs	e)
18)	Financial Reporting Releases (FRR)	c)
19)	PCAOB	s)