FASB - still young, but under pressure to slow down

Article Abstract:

In 1973 the American Institute of Certified Public Accountants established the Financial Accounting Standards Board (the FASB) to 'broaden the base of the accounting standards-setting structure'. The cost of operating the FASB is estimated to exceed $10 million per year. The FASB has come under attack in the 1980s for promulgating too many accounting and auditing standards and for its historic disregard for the difficulties such standards pose for small business. The FASB has reduced its membership (in an effort to cut operating costs) and is paying more attention to the effect of its standards on small business in the U.S. Some of FASB's more recent pronouncements with regard to inflation accounting are discussed.

United States, Laws, regulations and rules, History, Accounting, Associations, Accountants, Financial Accounting Standards Board

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Baker Tilly

Article Abstract:

The Milton Keynes office Baker Tilly was the first recipient of the Arts & Business New Partners Awards for its sponsorship of the arts in the United Kingdom. The ward was presented to Baker Tilly for its joint support with the music venue The Stables of a Corporate Club and its Pink Panther social evenings that raise money for the arts.

Baker Tilly

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Ernst & Young

Article Abstract:

Accounting firm Ernst & Young has been involved with the Arts & Business organization in helping to create a working relationship between business and the arts in the United Kingdom. Arts & Business has awarded the company two awards for its sponsorships, including the 1999 Manet exhibit at the Royal Academy of Arts.

Finance, Arts, Ernst & Young L.L.P.

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