It is not always easy to read and understand financial statements. Format and standards are important for comparisons across companies and over time. To conclude the series of assignments for this course we will look at the agencies creating and enforcing the standards and some related concepts.
Search the course background information, the Internet and/or the Trident Online Library in addition to the Starbucks annual reports. Discuss the terms listed below. Explain why the following concepts/governing agencies are important to financial statements in general and to Starbucks.
- Financial Accounting Standards Board (FASB)
- Generally Accepted Accounting Principles (US GAAP)
- American Institute of Certified Public Accountants (AICPA)
- International Accounting Standards Board (IASB)
- International Financial Reporting Standards (IFRS)
- Securities and Exchange Commission (SEC)
- Public Company Accounting Oversight Board (PCAOB)
- Annual report; and
- 10-K, 10-Q, and 8-K
SLP Assignment Expectations
Use Word and respond in a question and answer format. There is no need to use Excel for this particular SLP.