Ethics in Accounting
The Financial Accounting Standards Board (FASB) is an independent organization responsible for establishing accounting and financial reporting standards in the United States. Its primary purpose is to ensure transparency, consistency, and comparability in financial statements, which is vital for investors, creditors, and other stakeholders. The FASB plays a crucial role in regulating the way earnings are reported, thus impacting how earnings management and manipulation are perceived and addressed within the accounting profession.
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